STASIS EURO
Crypto Overview
Overview
STASIS EURO (EURS) is a euro-backed stablecoin launched in 2018 by STASIS, a financial tokenization platform based in Malta. The cryptocurrency is designed to maintain a 1:1 peg with the Euro through full backing of traditional fiat currency reserves.
Intended Utility
The primary purpose of EURS is to serve as a bridge between traditional finance and digital assets, offering a stable digital representation of the Euro. It aims to facilitate cross-border transactions, provide a stable store of value, and enable Euro-denominated cryptocurrency trading.
Actual Utility and Implementation
EURS operates on the Ethereum blockchain as an ERC-20 token. The project maintains transparency through regular audits of their Euro reserves by BDO Malta, with verification reports published quarterly. The tokens are fully backed by Euro deposits held in partner financial institutions.
Business Model Analysis
The revenue model is based on transaction fees and institutional services rather than interest-bearing activities. STASIS generates income through nominal fees for token issuance and redemption, which aligns with Islamic financial principles as it represents payment for a service rather than interest.
Founder and Team Assessment
STASIS was founded by Gregory Klumov, who has a background in investment management. The team maintains regular communication and transparency about their operations. There is no evidence of significant token concentration among founders or early investors, as the token supply directly corresponds to Euro deposits.
Crypto Impact
To assign a comfort level investing in STASIS EURO from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to STASIS EURO.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.