Established in 2018, Stasis is a European FinTech company that issues the Euro-backed stablecoin called EURS. This Stablecoin аs a Service (SAAS) platform aggregates solutions from licensed financial intermediaries to provide an institutional-grade link between the decentralized finance world and the off-chain market. STASIS operates the largest and most transparent Euro-backed stablecoin in the digital asset universe. The company’s vision is to bring an alternative to USD stablecoins into the digital asset space.
The company behind the platform, Stasis Foundation, is based in the Isle of Man and was founded in 2018. The platform uses a system of collateralized debt obligation (CDO) to maintain the value of its stablecoins, which are backed by reserves of fiat currencies held in escrow. The company utilizes a transparent and auditable process to ensure the stability of its stablecoins, which can be used for various purposes, including online payments, remittances, and trading on cryptocurrency exchanges.
What’s the origin of Stasis's name?
In physics, Stasis, pronounced stey-sis, refers to the balancing of various forces in order to reach equilibrium or keep something in one place. Despite shifting regulatory and economic environments, the tokenized assets stay the same — they’re in stasis.
What is the business model of Stasis? How does it generate revenue for development?
Stasis generates revenue through a variety of means to support the development and maintenance of the platform. Some of these include:
Fees: Stasis charges fees to users for certain activities on the platform, such as buying or selling stablecoins.
Custom solutions: Stasis provides custom tech solutions for financial institutions and other businesses that want to use stablecoins for their operations.
White-label solutions: The company generates revenue by licensing its technology to other companies or platforms that want to use it for their own stablecoin products.
Reserves management: The custodians pay Stasis a small yield for holding the reserves.
It is worth noting that the business model of STASIS may change over time as the platform and its products evolve.
How does Stasis manage its reserves?
The reserves are held in 100% liquid euro balances at partner institutions that Stasis Foundation members voted for, and we’ve determined and structured them in such a way as to keep them as safe as possible. To learn more about the reserves and view our daily account statements, please visit our Transparency page.
Where is Stasis headquartered?
Stasis is headquartered in Malta, a small island country in the Mediterranean Sea. Malta has been actively promoting itself as a blockchain-friendly jurisdiction and has been home to many crypto and blockchain companies. The Maltese government has been working to establish a regulatory framework for blockchain and cryptocurrencies, which has attracted many companies in the sector to the island. The country's location in the EU also makes it an attractive location for companies that want to serve the European market.
Our extensive team is decentralized and mainly consists of European employees and shares European values, but is spread all over the world — pretty much like everyone in Web3 these days.
What is EURS stablecoin?
EURS is a digital Euro, or stablecoin, designed to mirror the price of the euro.
As a cryptocurrency token, it’s backed by the value of the Euro and designed to provide a secure way to hold and transfer value, similar to how the Euro functions as a stable currency. The token is 100% backed by a reserve of Euros, ensuring that its value remains 1:1 tied to the Euro.
EURS currently runs on 5 blockchains: Ethereum, Polygon, Algorand, XRP, XDC, as well as 2 bridges: Arbitrum and Ghosis Chain.
How can I be sure all EURS in circulation are backed?
On-chain info on EURS circulation is available on the official website or external web resources, and we provide 4 levels of reserve transparency, including verification of third parties—the BDO: daily statements, quarterly verifications, annual audits, and on-demand verifications for an onboarded entity.
Who manages EURS reserves and how?
STSS Malta manages the reserves. During positive interest rates, the company keeps everything in 100% liquid euro balances or, simply, cash.
How can I get EURS?
It’s possible to purchase EURS with the proprietary on-ramp solution or buy on secondary markets such as centralized and decentralized exchanges and other on/ramp services. Don’t forget to check out our guide as well.
You can sell EURS on various popular crypto exchanges.
How can I use EURS?
EURS can be used as a stablecoin, which means some use cases for EURS include:
Store of value: EURS can be used to store value in a digital form that is pegged to the Euro, providing a stable alternative to more volatile cryptocurrencies like Bitcoin.
Payments and remittances: EURS can be used to make cross-border payments and remittances, allowing for faster and cheaper transactions compared to traditional finances.
Hedging against market volatility: EURS can be used to hedge against market volatility in the cryptocurrency market, as it is pegged to the Euro, which is generally considered a stable currency.
Trading on cryptocurrency exchanges: EURS can be traded on various cryptocurrency exchanges as a trading pair with other cryptocurrencies, such as Bitcoin and Ethereum.
DeFi: The benefits of EURS can be leveraged in decentralize finance pools in various ways, such as stacking, liquidity supply, lending, and farming—basically, analogs of traditional deposit models in the crypto realm.
Where is EURS listed?
EURS is listed on two dozens of centralized & decentralized exchanges such as CryptoMarket, HitBTC, Changelly, MtPelerin, Stablehouse, Curve, AAVE, CEX.IO, Geco.One and others. You can always find an up-to-date list on our website, in the “Network” section, and on our socials.
How can I get a yield on EURS?
There are many ways to leverage EURS benefits in DeFi. We recommend checking specific guides prepared by the STASIS team. Keep an eye on new editions by subscribing to our socials.
How is EURS regulated?
EURS is regulated in the EU, received legal opinions in the US, UK, CH, and LI, and you use it legally in 175 world countries. The actual licensing status is to be updated later in 2023.
How CBDC (Digital Euro) will affect EURS?
The introduction of a Central Bank Digital Currency (CBDC) for the Euro, also known as a digital Euro, could potentially have an impact on stablecoins that are pegged to the value of the Euro.
CBDC could provide competition for stablecoins like EURS, as it would be issued and backed by the European Central Bank (ECB) and potentially be considered a more trustworthy option for transactions and other financial activities by the general public.
On the other hand, it could also benefit EURS, as the CBDC could increase the overall demand for digital assets and make more people familiar with the use case of the euro-backed digital currencies. Additionally, the CBDC may be subject to stricter regulations than private stablecoins, which could lead to growing trust for stablecoins like EURS as they are issued by private companies.
What cryptocurrency wallets support EURS?
EURS stablecoin is supported across a wide range of the most popular wallets, such as Metamask, Exodus, Monolith, Argent, SafePal, Coinomi, and a native STASIS Wallet.
What is Stasis Stablecoin Wallet?
While developing EURS, we searched for a wallet application that would allow users to transact between various digital assets with a simple, easy-to-use interface. We couldn’t find one that meets our top-notch standards, so we decided to build our own — the non-custodial STASIS Wallet.
What are the defining features of your wallet?
Multi-currency support In addition to EURS, the STASIS Wallet supports Bitcoin, Ethereum, and DAI. Besides sending and receiving these assets, you can easily exchange them within the wallet, making it quick and easy to convert volatile crypto investments in Bitcoin and ether into more stable alternatives.
Delegated transfer Delegated transfer STASIS was one of the first wallets to offer delegated transfers for Ethereum-based transactions. This feature allows users to pay transaction fees in ether or EURS, rather than having to buy and hold GAS for transaction fees.
User-friendly interface When designing the STASIS Wallet, we drew inspiration from the best elements of mobile banking in order to create a user experience that makes transactions with digital currencies simple and seamless.
WalletConnect WalletConnect is an open-source protocol that allows users to connect their digital wallets to various decentralized applications (Dapps) and decentralized finance (DeFi) platforms. The Wallet Connect protocol uses QR codes to connect the user's wallet and the Dapp or DeFi platform.
How can I use the Stasis Wallet?
You can use Stasis Wallet to: Store the most popular crypto and EURS: You can deposit EURS, BTC, ETH, USDT, USDC, and DAI into your Stasis Wallet and store it securely.
Send and receive EURS: You can send EURS to other Stasis Wallet addresses and receive it from other users.
Connect to DeFi platforms: You can connect your Stasis Wallet to decentralized finance (DeFi) platforms, such as lending and borrowing platforms, to use EURS for these types of transactions.
Integrate with other wallets and exchanges: You can integrate your Stasis Wallet with other digital cold wallets, such as MetaMask and Ledger, and also can connect to various cryptocurrency exchanges.
Is it safe to use?
Stasis Wallet is designed to provide a secure way to store and manage digital assets such as EURS. Stasis Wallet is a non-custodial wallet, which means that you, the user, are in total control of your private keys and have sole ownership of your funds. However, it is essential to note that the safety of your funds ultimately depends on how you use the wallet and how you handle your private keys.
Your private keys are encrypted and stored locally on your device, so only you can access them. However, it is critical to remember that no digital wallet is completely immune to hacking and security breaches. It is vital to follow best practices for securing your digital assets, such as using a strong password, keeping your device updated, and not sharing your private keys with anyone. It is also recommended to enable 2FA and store large amounts of assets in cold storage if possible. Additionally, it's essential to use the wallet from the official website and not fall for phishing attempts.
Can I recover an address from another wallet?
You can recover any Ethereum or Bitcoin address as long as you hold the private key. We use the m/44’/60’/0’/0 derivation path.
Are you planning to add other cryptocurrencies to the STASIS wallet?
We’re always looking for ways to improve the user experience by adding new tokens and support for popular blockchains. For updates, including any additionally supported tokens, follow us on Twitter and Telegram.