What is STASIS EURO (EURS)?

Quick Facts

  • Issuer: STASIS (STSS Malta Limited), based in Malta
  • Peg: 1:1 to the euro (EUR)
  • Launched: 2018 on Ethereum
  • Collateral: Euro reserves held via European custodial arrangements
  • Blockchains: Ethereum, Polygon, Algorand, XRPL, Stellar, XDC, and more
  • Audits: Regular third-party audits and daily/weekly proof-of-reserve reports
  • Regulatory stance: AML/KYC compliant, EU and Swiss legal setup

Introduction

STASIS EURO (EURS) is a fully collateralized stablecoin pegged 1:1 to the euro. It was built to bring the stability and familiarity of the world's second most traded currency onto public blockchains, giving users a reliable digital alternative to USD-denominated stablecoins.

EURS is widely regarded as the most prominent non-USD stablecoin globally and the leading euro-pegged stablecoin by liquidity and adoption.

History & Background

STASIS was founded in Malta and began issuing EURS in 2018, claiming the title of the first euro-pegged stablecoin on the crypto market. From its early days, STASIS collaborated with Maltese authorities on cryptocurrency regulatory frameworks, contributing to early EU-wide crypto policy discussions.

In 2022, an upgraded version of EURS (v2.0) launched with improved smart contract code that reduced transaction costs by 20-35%. Over the years, EURS has expanded across multiple blockchains and processed over €5.5 billion in on-chain value transfers.

How STASIS EURO Works

Each EURS token is backed by one euro held in reserve accounts through European custodial arrangements. STASIS publishes daily balance statements, weekly verification reports, and quarterly audits by major accounting firms to validate these reserves.

EURS is an ERC-20-compatible token that also introduced delegated payments on Ethereum — meaning users can pay transaction fees in EURS or other supported assets, removing the need to hold ETH for gas.

Tokenomics

EURS follows a mint-and-burn model: tokens are issued when users deposit euros and redeemed (burned) when users convert back to fiat. This design keeps the supply directly tied to actual euro collateral held in reserves.

The token is not inflationary by design. Its value derives entirely from the euro peg, and STASIS supports 1:1 on- and off-ramp via SEPA and SWIFT bank transfers.

Circulating supply ? 124.13 million EURS
Total supply ? 124.13 million EURS
Max supply ? 124.13 million EURS
Updated 2mo ago

Ecosystem & Use Cases

EURS is used across a wide range of applications:

  • DeFi liquidity: Integrated into DEXs and lending protocols on Ethereum, Polygon, and Arbitrum for euro-denominated trading pairs.
  • Payments: Businesses and individuals use EURS for borderless euro transfers without traditional banking intermediaries.
  • Cross-chain bridging: STASIS provides a bridge allowing EURS to move across supported blockchains for arbitrage and liquidity efficiency.
  • Institutional settlement: Financial institutions use EURS as a compliant, transparent settlement layer.

Team, Governance & Community

STASIS is led by CEO Gregory Klumov, a tech entrepreneur with a background in alternative asset management who entered crypto during Bitcoin's early years. The team includes CTO Anatoliy Knyazev and CFO Vyacheslav Kim, alongside financial experts and compliance specialists.

The project does not operate as a DAO. Governance decisions are made centrally by STASIS, with transparency maintained through public audit reports and reserve disclosures.

Advantages

  • Euro-native: Pure EUR exposure with no reliance on USD reserves or US banking systems.
  • Transparent reserves: Daily, weekly, and quarterly reporting provides strong proof-of-reserve assurance.
  • Multi-chain flexibility: Available on 8+ blockchains, enabling broad DeFi and payment integrations.
  • Delegated payments: Users can transact on Ethereum without holding ETH for gas fees.
  • Regulatory compliance: EU and Swiss legal structure with AML/KYC adherence from day one.

Risks & Challenges

  • Centralization risk: STASIS controls minting and redemption; users depend on the issuer's solvency and trustworthiness.
  • Regulatory exposure: Evolving frameworks like MiCA introduce compliance requirements that could affect operations or accessibility.
  • Depeg risk: If reserves are mismanaged or liquidity is thin, EURS could temporarily lose its 1:1 peg.
  • Liquidity depth: Compared to dominant USD stablecoins, EURS has a smaller market footprint, which can affect on-chain liquidity in some DeFi pools.

Long-Term Vision

STASIS aims to establish EURS as the standard digital representation of the euro across global crypto markets. With growing interest in euro-denominated DeFi and increasing regulatory clarity under frameworks like MiCA, EURS is positioned to serve both retail users and institutional players seeking a compliant, transparent, euro-native digital asset. The team continues to expand blockchain integrations and deepen partnerships across the European fintech ecosystem.

Frequently Asked Questions

STASIS EURO (EURS) is a fully collateralized stablecoin pegged 1:1 to the euro, issued by the Malta-based fintech company STASIS. It allows users to hold, transfer, and use euros on public blockchains without relying on traditional banking infrastructure.

EURS is issued by STSS (Malta) Limited, also known as STASIS, headquartered in Malta. The company operates under an EU and Swiss legal setup and has been active in cryptocurrency regulatory discussions since 2012.

STASIS holds euro reserves in custodial accounts for every EURS token in circulation, following a mint-and-burn model. When euros are deposited, new EURS tokens are minted; when EURS is redeemed, the tokens are burned and euros are returned.

EURS is primarily available on Ethereum and Polygon, and has also been deployed on Algorand, XRPL, Stellar, and the XDC Network. Most of EURS liquidity is concentrated on the Ethereum mainnet.

STASIS publishes daily balance statements, weekly verification reports, and quarterly third-party audits conducted by major accounting firms. This multi-layer transparency approach is a core differentiator of the project.

EURS offers pure euro exposure with no reliance on US dollars or US banking systems, making it distinct from stablecoins like USDT or USDC. It is designed specifically for European users and institutions seeking euro-denominated digital assets.

Yes, EURS is integrated into a range of DeFi protocols, including decentralized exchanges and lending platforms on Ethereum, Polygon, and Arbitrum. It enables euro-denominated trading pairs and liquidity provision within the DeFi ecosystem.

The primary risks include counterparty risk tied to STASIS as a centralized issuer, potential regulatory changes under frameworks like MiCA, and the possibility of a temporary depeg if liquidity becomes constrained. Thinner liquidity compared to USD stablecoins is also a consideration.