A crypto-backed loan service provider YouHolder has listed EURS, the first euro-pegged stablecoin.
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From now on, the platform's users can earn up to 12% APY with new Euro savings accounts STASIS said in a blog post.
The Malta-based stablecoin issuer highlights that interests are compounding, meaning the longer one holds their funds in the savings account, the more he earns at a parabolic growth rate.
STASIS CEO, Gregory Klumov, says that the mainstream adoption is already here, and people "will be more comfortable switching gears if anything unpredictable happens."
"It is thrilling to witness how high the demand for top industry stablecoins had increased since the crisis started: institutional investors, along with mainstream users, want to shelter their funds," Klumov added.
In December 2019, STASIS unveiled a new cryptocurrency off-ramp dubbed 'Sell-Back UI,' which is structured to decentralize fiat reserves while allowing users to easily exchange EURS for Euros. The project chose three main use cases — lending, remittance, corporate settlement — for the next cycle of development.
Stablecoins have triggered a real boom not only among countries, but also among large financial institutions. As iHodl earlier reported, JPMorgan Chase's stablecoin dubbed 'JPM Coin' entered a commercial phase for the first time and its successes has already made one of the biggest US banks to create a new blockchain arm and focus specifically on digital currency efforts.
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