The Occam Association announced today that it will join with top stablecoin issuer Stasis to deliver the first Euro stablecoin on Cardano, Stasis Euro (EURS), using its Occam.fi Ethereum–Cardano bi-direction bridge, marking yet another milestone for the Occam.fi ecosystem. Stasis will also collaborate with the Occam.fi team to create innovative Cardano decentralized finance solutions.
Stasis is a crypto-enabler platform that connects the DeFi world to the off-chain market in an institutional-grade way. The Malta-based crypto wallet provider also provides its partners with smart contract generation, third-party audits, custodial services, and comprehensive knowledge of the current crypto regulatory environment.
The EURS stablecoin from Stasis is the top Euro stablecoin, combining the benefits of decentralization with the euro’s reputation and relative economic stability. By giving access to a stable digital asset that is publicly backed by euro reserves, crypto traders and holders can avoid the daily volatility and counterparty risk associated with digital assets.
All EURS stablecoins are secured by collateral held in the company’s reserve accounts in a one-to-one ratio. Stasis takes great precautions to ensure that user funds are completely backed by regular and numerous audit streams by a top-five global accounting firm.
Mark Berger, president of Occam says:
“This is the first time that a fiat-backed stablecoin of one of the world’s major economic zones has been made usable on the Cardano blockchain. We are looking forward to working closely with Stasis not only to deliver its EURS stablecoin to Cardano through our bridge infrastructure, but also to build out more DeFi solutions unique to Cardano.”
Over 500 million euros in digital value has been processed through EURS to date. The largest Euro stablecoin now has over 88 million EURS in circulation, nearly tripling in the previous year, demonstrating strong demand from both retail and institutional investors.
Gregory Klumov, CEO of Stasis said:
“Stasis has long been interested in exploring the Cardano native token environment to both extend our wallet infrastructure to, and to build out stablecoins on. With low transaction fees and a strong focus on decentralization, Cardano looks to be a promising blockchain for financial inclusion. We’re excited to work alongside the Occam.fi team, and leverage their experience of building for the Cardano ecosystem.”