What is EURS?
EURS is an EUR-backed stablecoin, which can be issued on the Ethereum and Algorand blockchains. EURS was launched in July 2018, when it became the first stablecoin pegged to the Euro, and has since become one of the most recognized stablecoins in the world.
EURS is issued by STASIS, a tokenization platform that takes traditional assets, such as currency, stocks and bonds, and tokenizes them on the blockchain. STASIS aims to bridge the disconnect between decentralized finance and the off-chain market, thereby bringing the advantages of blockchain and blockchain technology to traditional assets.
How does EURS work?
EURS is a 1:1 backed stablecoin, meaning that for every one EURS that STASIS issues, one euro should be held in the STASIS reserve accounts. As EURS is pegged to the Euro, it carries the same intrinsic value as the Euro, and the price of EURS fluctuates directly with the price of the Euro.
Stablecoins are digital assets pegged to real world assets, such as fiat currencies or commodities. As a result, stablecoins tend to avoid the market volatility that comes with other cryptocurrencies.
Traders who wish to keep their money invested on one crypto exchange can use stablecoins to try out other investments, without having to pay fees in order to ‘cash out’ to fiat.
What is EURS used for?
As a stablecoin, EURS can be seen as a point of entry to cryptocurrency trading, allowing holders to avoid the volatility associated with other cryptocurrencies.
EURS is often used as an entry point to digital asset payments, allowing holders of the token to transact more efficiently, with more speed, and at a lower cost in comparison to fiat transactions. EURS was originally created to marry the many benefits of blockchain technology, such as speed, security and decentralization, with the relative stability of the Euro. EURS was also designed to meet the growing demand for cryptocurrencies from European institutional investors.
EURS is an ERC-20 token. ERC-20 tokens are blockchain-based assets that hold value and can be sent and received. As such, EURS can be sent to and received from any Ethereum address.
What are EURS risks?
As a stablecoin pegged to the euro, EURS is not volatile and is relatively low risk when compared with other digital currencies.
Regulation remains a major topic of discussion globally, and any future regulation surrounding stablecoins may result in changes to the rules around their issuance, and the issuance of EURS. In Europe, The Markets in Crypto-Assets (MiCA) framework, which has yet to be fully implemented, details strict regulatory standards of transparency, operation, and governance around stablecoins.
How to buy EURS?
There are a variety of ways that people can purchase EURS, including through crypto exchanges where you can buy it using fiat currency.
Customers can buy EURS on the Stablehouse platform using another digital asset or with fiat currency in a simple and accessible way.
Earn EURS on Stablehouse?
Stablehouse is designed to help both newcomers and seasoned investors to make strategic investments, believing everyone has a place in the new digital economy and should feel confident and equipped to participate.
Stablehouse’s expert wealth managers invest the assets under management on the platform to generate sustainable returns for its customers. An introductory rate of XX% is available on any purchases of EURS via the Stablehouse platform.