Stasis Tokenization Company Announces New EURS Stablecoin
Following the recent controversy with Tether, many companies have taken a resorted to a different approach. Stasis, a company operating in Malta have designed and launched a new stablecoin supported by the euro. The company is looking to acquire a local operating license and a stablecoin their alternative approach.
The company launched its new coin, the EURS, is said to be backed by the euro was designed to operate on Ethereum as a stablecoin. According to the company, EURS is already listed on DSX in the UK and has been trading with a predicted $500M order by the end of 2018. Statis also explained that EURS was designed as a stablecoin due to the escalating demand of investors from Europe.
Chief Executive Officer of the company stated that the stablecoin will connect traditional and cryptocurrency economy. He explains that EURS will introduce a safe way in institutional investors to join in on the market and make their own profit. This will aid the entire industry in advance even further in value and capital.
The company is looking to acquire approval for a recent application to acquire a license which complies with Malta’s effective regulation. The European Union had published bills to promote startups and further development of crypto company business in Malta. As part of the published bills, support is shown towards restricting false promotion of initial coin offerings, advertisements, and financial scams.
Minister Schembri stated that the Maltese government is effectively working to ensure the necessary legalities involving the currently regulation-free industry. He explained that Malta is opening its doors to any new businesses looking to establish themselves on the island and comply with government officials and looks forward to providing licenses to businesses that prove trustworthy. He adds that Malta aims to become a crypto hub for the world and an operational safe haven for any related companies.