STASIS – Defining Blockchain, Redefining Boundaries

STASIS | Defining Blockchain | Gregory Klumov | The Enterprise World

The core value of blockchain lies in its ability to replace intermediaries — this technology can reduce the parties’ overhead in direct asset trading or quickly confirm ownership or authorship of specific information; the latter is now almost impossible to do without the involvement of a central governing body or an impartial third party. 

Modern banks do not have efficient systems to evaluate and track the trustworthiness of the third party at a proper accuracy degree. Blockchain tech is the first attempt in the world to provide a single person with the option to calculate the system’s trust at large.

STASIS EURO or EURS stable coin developed by STASIS combines experience, trust, technology, and financial infrastructure to enable business growth, narrowing the gap between the European financial and the global digital asset markets. Their in-house solution utilizes multi-blockchain interoperability to shortcut financial inefficiencies, often present in old-school financial systems.

EURS successfully competes in the DeFi corner with the biggest euro-denominated staking pools. The multi-chain infrastructure is now live on Ethereum, Algorand, Polygon, Ripple, XDC, with several more blockchains in development. While other major stable coins operate on the USD market, EURS solo caters to the needs of the European Union. 

Leading The Blockchain Revolution – STASIS

STASIS is a tokenization company that provides a bridge from Web 2.0 to Web 3.0 financial services and it pioneers in the commercialization of stable coin use cases: acquiring, DeFi lending, remittance, and white-label corporate settlement.

Since its inception in 2017, STASIS has functioned as the most transparent and institutional-friendly part of the European blockchain ecosystem through the strategic intersection of licensed financial intermediaries and distributed ledger technology. The Malta-based startup has rightfully gained the trust of traditional and conservative regulated institutions.

The advent of the Web 3.0 technology layer incentivizes the emergence of on-demand settlement across non-custodial solutions, which is a viable alternative in value transfer channels. Using the lowest credit risk possible asset helps to establish simplified access to the digital asset market through apps, DApps, Web, and APIs.

Initial Journey of STASIS?

The world still lags in cryptocurrency adoption, and it was an even bigger problem five years ago. Digital asset regulation is different in various countries, and there is no common framework that can tackle the rising needs of the crypto market.

STASIS started with educating local service providers like auditors and fund administrators in Malta. This experience enabled them to develop relationships with the local regulator MFSA and government top officials like the Prime Minister, Minister for Digital Innovation, and even the President herself.

It became obvious that there was ground for a legal framework because of start-ups emerging to experiment with blockchain technology. The Maltese Government officials and regulators asked STASIS to contribute and consult them for the legal framework.

The whole Maltese legal framework was crafted directly with the STASIS team’s assistance, setting an example. This allowed them to spread their expertise and lead the innovation curve across 7 alliance Mediterranean countries.

Despite the evident need of local and the EU population to rely on its balance-sheet currency, the euro, the popularity of dollar-denominated assets remains very solid today. STASIS and its team’s ultimate goal is to change that mentality!

Factors Triggering the Growth of STASIS?

The rising DeFi adoption which started as a trend in 2020 ignited new use cases for their product and streamlined significant growth of EURS stablecoin reserves and interest from institutional players and average users.

Nowadays, EURS pools are pretty popular on Curve and other DeFi protocols. Now, they have established many partnerships with the top protocols and aim to expand the network circle further. To know more, you can check EURS’s official page.

EURS is the most transparent stablecoin, and that’s one of its defining features. They’ve signed agreements with BDO to ensure the transparency and trust of their clientele.

STASIS also enjoys many clients who purchase EURS in substantial quantities to enter DeFi. STASIS provides a bridge to booming Decentralized Finance for them and a safe way to dip their toes in the digital asset field.

Reasons Establishing the Long-Standing Success of STASIS?

The STASIS team has been able to outperform many competitors in the field by being able to “take the high road” and go the extra mile. EURS setup is superior in many cases, and the team supported their views by providing objective data via in-depth research to prove that. To avoid falling into oblivion, the STASIS team has been developing its cryptocurrency with a strong focus on regulations since day one.

It is their unparalleled and successful experience and expertise in various finance, IT, and legal areas to produce a world-class product that is now the largest euro-backed stable coin on the market.

Specialized Solutions of STASIS

STASIS specializes in tokenization services, wallet applications, and smart contract development. Previously, they have also been consulting companies and even governments on cryptocurrency, and currently, they exist in the self-regulatory mode until the global framework comes into force. The STASIS team really helped decision-makers climb the learning curve in the digital asset field.

STASIS is the issuer of the largest non-USD fiat-backed euro stablecoin (EURS) with $6B+ in transferred value up to date. They have also built an app — STASIS Wallet — that allows customers to pay, earn and run digital asset treasuries globally and stay compliant with a traditional financial system. The institutional grade infrastructure is based on and connected to the leading banking (BankFrick), capital markets (Exante), data compliance (Chainalysis, Elliptic), and custody (PrimeTrust, BitGo) service providers.

They have decided that marrying the Euro with blockchain technology will help the region to gain a competitive advantage over the US dollar. It will help to break even more barriers and make Euros accessible to everyone with just Internet access and an Ethereum wallet.

STASIS aims to establish a better user experience for EURS holders by advancing in a multichain direction. The team sees massive potential in the DeFi area and is considering possible options to broader the userbase and develop new use case for their stablecoin 

Currently, they’re negotiating with several companies and exchanges to shape this vision further and expect to solidify EURS’s position in the stablecoin arena in the coming years.

But that’s not all. STASIS plans to unveil it’s grander project for EU zone in the coming months — something big that will define further development of the company in the years to come. EEN or EURS Network for legacy finance will be the S.E.N. for euros! With very few details at this moment, do expect more info with the launch of the new STASIS website in the coming months!

How STASIS is Leading the Innovation Curve?

Blockchain is known to be a disruptor of clearing, custody, and settlement services. Utilizing the DLT, EURS developed by STASIS overcomes issues associated with TradFi and legacy banking.

The STASIS team has been educating clients and decision-makers on the benefits of the “crypto euro” since the inception of STASIS.

Imagine being able to send euros on a blockchain and receive money in minutes! There are no holidays, no intermediaries, and no delays. The STASIS team has also developed a “Sellback” service to enable smooth crypto on/off ramp via Swiss premium-grade platform.

Nowadays, European and other world countries use EURS as a payment method to employees, so their workers can get more financial control. Literally, anyone who gets paid in Euros can now choose to get their paycheck in cryptocurrency. Their transparent stablecoin protects workers and employers from crypto volatility.

Why EURS

  • First, STASIS EURO (EURS) is proudly procured and operated in the European Union.
  • STASIS is the only stablecoin issuer in the world (so far) that can hold collateral with the central bank.
  • EURS was the pioneer to kick off the stablecoin transparency race bringing in Big4 auditors to do frequent checks of the issuer’s balance sheet since 2018.
  • The issuer’s allocation of collateral is published daily in the form of statements from licensed financial intermediaries, holding STASIS accounts.
  • STASIS euro-as-a-service infrastructure runs on a proprietary back-end with Whitelabel capacity.
  • The largest addressable market: Both institutional and individual accounts are available to STASIS customers from 175 countries vs 86 countries and institutional accounts of its closest competitor.
  • EURS is the only “pure” euro stablecoin that bears neither legal, collateral, nor banking risks outside the EU.

A Visionary Leadership – Gregory Klumov, 

CEO, STASIS

Gregory Klumov is a highly-profiled specialist in alternative asset management with extensive experience in crafting complex business multi-strategies for international markets. He has built a career around managing multi-million dollar portfolios on behalf of global funds and private investors. 

Being an expert in building and pairing liquid and digital alternatives alongside more traditional portfolio investments, Gregory now aims to shift stakeholders’ mindsets to embrace cryptocurrency technologies.

Having initially started in IT as an entrepreneur by establishing a high-speed Internet Service Provider at the age of 15, Greg pursued finance and management roles before becoming active in the Bitcoin and digital assets space during its emergence.

Gregory’s opinions appear regularly in numerous international publications including Forbes, Bloomberg, BitCoin Magazine, Coindesk and Coin Telegraph. Delivered lectures around technology and alternative assets at the Frankfurt School of Finance and Management, IMD in Lausanne and Malta University.

He is also a notable and enthusiastic speaker in the blockchain space who is passionate about research and investments, with a track record of speaking at the World Economic Forum, Money2020 Singapore, TEDxWarwick, the Blockchain & Bitcoin Conference in Riga, and conferences in Frankfurt, London, and New York.

Gregory’s take on how technology helped STASIS’s clients to achieve a seamless blockchain experience?

The core value of blockchain lies in its ability to replace intermediaries — this technology can reduce the parties’ overhead in direct asset trading or quickly confirm ownership or authorship of specific information; the latter is now almost impossible to do without the involvement of a central governing body or an impartial third party. 

Modern banks do not have efficient systems to evaluate and track the trustworthiness of the third party at a proper accuracy degree. Blockchain tech is the first attempt in the world to provide a single person with the option to calculate the system’s trust at large.

In the case with EURS, the STASIS team opens the gateway to the world’s second-largest currency via multiple streams accessible with just a Web3 wallet. One can leverage the burgeoning field of financial technologies and enjoy lucrative interest rates, much more appealing than in legacy finance, in various crypto protocols and platforms.

Gregory’s advice to budding entrepreneurs?

“I always used to say that “Success is a number of attempts”. Long story short, it pretty much describes my journey in the cryptocurrency realm.

My next honest advice to young entrepreneurs is to fail fast and cheaply. In this way, one will get a priceless experience before trying to build the grand dream project of his life.

Moreover, I advise others who are just starting out in any new field to find themselves a mentor, one that will teach you the ropes of a new business.”

Did You like the post? Share it now: