Stasis, the crypto ecosystem which recently launched the stablecoin EURS that is paired exactly against the Euro recently announced that it had onboarded its first institutional client.
The announcement was made through a tweet by Stasis CEO Gregory Klumov. Speaking exclusively to CCN, Klumov explained that the client operates in the field of money management.
onboarded first institutional client #EURS
“We are happy to welcome on board of the STASIS ecosystem a licensed money manager, specializing in liquid alternatives. Institutional investors are just starting to accumulate crypto exposure and the EURS token is a perfect start to get involved in this exciting marketplace”, Klumov told CCN.
There has been much talk of late on how the recent slump in cryptocurrency prices has had to do with the lack of interest from institutional investors. This new development could see further moves in the field as interest in the cryptocurrency space continues to grow.
STASIS launched their EURS stablecoin earlier this month in an event that was also attended by Maltese Prime Minister Joseph Muscat who spoke about how the country was taking the lead in establishing itself as the ‘blockchain island’ with the passing of new legislation on cryptocurrencies and blockchain.
EURS aims to address a growing demand from European institutional investors towards cryptocurrencies. The stable coin will provide a trustworthy haven during excessive periods of cryptocurrency market volatility while also enabling a free off-chain transfer of assets via a blockchain. EURS also launched on the London-based exchange DSX on 4 July. Other major cryptocurrency exchanges will follow suit in the upcoming months, according to STASIS.
STASIS is a fully compliant blockchain platform that lets investors tokenize any form of financial assets. Through its transparent and regulatory adhering network of partners, STASIS platform allows capital to flow freely between off-chain and on-chain forms of digital assets. The company is based in Malta and has actively collaborated with the Maltese government on cryptocurrency legal frameworks since 2012.
Stablecoins are a multi-billion dollar market which is likely to grow exponentially once institutional cryptocurrency traders and hedge funds enter the field, seeking cryptocurrency assets that mitigate volatility and risk.
Featured image from Shutterstock.
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