In a recent announcement, Stasis, the crypto ecosystem which newly launched the stablecoin EURS that is currently pairing 1 to 1 with the Euro confirms that it has signed up its first institutional client.
The announcement was done via a tweet by Stasis CEO Gregory Klumov. Klumov noted that the client works in the field of money management.
Klumov noted that, “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”.
Recently, there have been ongoing debates regarding the recent drop in cryptocurrency prices and its connection to the lack of interest from institutional investors. This new move by Stasis could see more efforts in the field as interest in the cryptocurrency space increases.
STASIS introduced their EURS stablecoin this July at an event that was also attended by Maltese Prime Minister Joseph Muscat who talked about how the country was taking the forefront in setting itself as the ‘blockchain island’ with the introduction of new legislation on cryptocurrencies and blockchain technologies.
EURS seeks to handle a rising demand from European institutional investors towards cryptocurrencies. The stablecoin will offer a trustworthy heaven during surplus times of cryptocurrency market stability in addition to making possible free off-chain transfer of assets through the blockchain. EURS also launched on the London-based exchange DSX on July 4. Several major cryptocurrency exchanges are expected to come on-board in the months to come.