Stellar Receives Euro-Backed Stablecoin with EURS Integration
The post Stellar Receives Euro-Backed Stablecoin with EURS Integration appeared on BitcoinEthereumNews.com.
Key highlights: Leading euro stablecoin EURS integrates with Stellar network, bringing major European fiat liquidity to the blockchain’s fast-growing payments ecosystem. EURS leverages Stellar’s rapid settlement speeds to facilitate instant, affordable euro transfers for businesses and consumers across various decentralized finance applications. Integration signals growing traction for issuing institutional assets on Stellar blockchain, as network’s scalability and sustainability attracts traditional finance into crypto. The Stellar Development Foundation (SDF), the non-profit organization that supports the development and growth of the Stellar network, has announced a new integration with STASIS, a European fintech company that issues EURS, bringing one of the largest euro stablecoins onto the Stellar blockchain network. Live on the network: Welcome EURS ? @stasisnet integrates with the Stellar blockchain, bringing a digital version of the world’s second-most used currency. Enjoy transparent, reliable euro-backed stablecoins on the efficient, low-cost Stellar network. https://t.co/3xsjePFXrm — Stellar (@StellarOrg) November 29, 2023 Overview of EURS EURS is a compliant and regulated stablecoin that is accessible in over 175 countries. It is fully backed 1:1 by euros held at the Lithuanian Central Bank, ensuring stability in volatile markets. EURS has transferred over 6 billion euros on-chain across multiple blockchains, making it a reliable stablecoin for various use cases. Benefits of the intergration By joining Stellar, EURS can leverage the network’s fast, affordable, and global payments. Stellar transactions settle in seconds with minimal fees, enabling real-world applications. Stellar’s decentralized protocol connects people and institutions worldwide, providing a perfect foundation for EURS. “Stablecoins serve as pivotal bridges for global financial inclusivity,” said SDF CEO Denelle Dixon in a statement. She continued: “The Stellar network, designed specifically for seamless payments, welcomes EURS, one of the largest Euro stablecoins. This integration marks a significant milestone, empowering builders on the network with expanded options, accelerating innovation, and fostering greater accessibility in…
Filed under: News - @ November 30, 2023 5:18 pm