The stablecoin realm is expanding. Perhaps this is due to the stability in price that the coins exhibit. In this light, STASIS unveils EUR which will provide with investors in Europe an opportunity to enjoy cryptocurrency price stability.
According to a press release, the EUR stablecoin will have its price corresponding to Euros. The main aim is to keep the price of EUR grounded and to move in tandem with the Euro. The cryptocurrency market is not yet to fully develop.
Therefore, there are still cases of market manipulation by malicious agents for their gain. Also, the market still operates in the regulatory gray area which makes it unsafe to investors. As a result, the price of the cryptocurrencies fluctuates wildly such that investment in the market becomes very risky.
The news release estimates the order volume for the stablecoin to reach a little over $500 million by end year. As a result, this will make EUR the world’s top stablecoin, the release notes.
Based in Malta, STASIS is a “fully compliant” blockchain firm that aims at completely democratizing the blockchain ecosystem. However, due to updated regulatory requirements in Malta, the firm is working is working on a new license acquisition.
STASIS unveils EUR to meet market demand
The new regulations are as a result of the government’s effort to facilitate Blockchain’s take off. A Minister within the docket of the country’s Prime Minister acknowledges that legal certainty is one of the biggest challenges of blockchain at the moment. Therefore, he says: “The Government of Malta has been working diligently and progressively to provide legal certainty to an industry that is currently unregulated.”
Hedgeweek reports that the stablecoin will trade on the BeQuant platform. This way, the millions of investors on BeQuant will access the coin that will guarantee high returns and safety. As per George Zarya, CEO of BeQuant the new product is a response to demand in the market. He says that the marketing is demanding more reliability and transparency from the market. Therefore, as STASIS unveils EUR, investors will get their answer.
Zarya says: “STASIS EUR’s work in creating a more reliable asset will help build the credibility of cryptocurrency in the wider financial market through its improved processes aimed at providing a more secure asset for investment.”