Occam.fi partners with Stasis to launch Cardano’s first Euro stablecoin
Zug, June 28, 2021 — In yet another milestone for the Occam.fi ecosystem, the Occam Association announced today that it will partner with leading stablecoin issuer Stasis to offer the first Euro stablecoin on Cardano, Stasis Euro (EURS), through its Occam.fi Ethereum–Cardano bi-direction bridge. Stasis will also work alongside the Occam.fi team to develop innovative decentralized finance solutions for Cardano.
Stasis is a crypto-enabler platform that provides an institutional-grade link between the DeFi world and the off-chain market. The Malta-based crypto wallet provider also offers smart contract creation, third-party audits, custodial services, and the provision of deep expertise in the current crypto regulatory environment to its partners.
Stasis’ EURS is the leading Euro stablecoin, which combines the benefits of decentralization with the reputation and relative economic stability of the euro. This enables crypto traders and holders to mitigate the daily volatility and counterparty risk associated with digital assets by providing access to a stable digital asset, transparently backed by euro reserves.
All EURS stablecoins are backed at a one-to-one ratio by collateral held in the company’s reserve accounts. With regular and multiple audit streams by a top-five global accounting firm, Stasis takes careful measures to ensure that user’s funds are fully backed.
Mark Berger, president of the Occam Association, said:
“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.”
To date, more than 500 million euros worth of digital value has been processed through EURS. With over 88 million EURS in circulation currently, the largest Euro stablecoin’s supply almost tripled in the previous year, indicating a huge 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.”
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The Occam.fi ecosystem is managed and maintained by the Occam Association, a Switzerland-based entity operating from the crypto-friendly Canton of Zug. When the Occam.fi ecosystem grows sufficiently, Occam.fi will be governed and steered by a carefully designed decentralized autonomous organization. Occam.fi is the first decentralized launchpad designed for the Cardano ecosystem, built with expertise and care from a veteran team of blockchain entrepreneurs and professionals. Learn more at www.occam.fi.
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