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XRPL Integrates Largest Euro-Backed Stablecoin in Crypto Space

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Wed, 2/11/2022 - 12:25
XRPL Integrates Largest Euro-Backed Stablecoin in Crypto Space
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STASIS, the issuer of the largest stablecoin backed by the euro, has completed XRP Ledger integration for its flagship EURS stablecoin. XRP Ledger will reopen the box of stablecoin use cases.

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EURS claims to be the largest non-USD stablecoin with over $5 billion of transferred value and the biggest euro-denominated staking pools. EURS, a stablecoin pegged to the world's second-most-traded currency, the euro, ranks as a top 10 stablecoin globally and has amassed tens of thousands of users in its international communities.

XRPL has marked notable partnerships in recent months. In September, Stably announced its partnership with Ripple for technical support to launch its multi-protocol stablecoin "USDS" on the XRP Ledger.

Recent XRPL developments

As reported by U.Today, Ripple CTO David Schwartz took to Twitter to announce the start of the NFT revolution on XRP Ledger.

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Thanks to the collective effort of the XRPL community and RippleXDev engineers, XLS-20 is now enabled on the XRP Ledger Mainnet, and a few NFTs have already been minted.

Brad Garlinghouse, CEO at Ripple who was celebrating the feat, described it as "an incredible milestone" for the XRP Ledger community.

Already 5,750,000 in XRP volume was reached in two hours at the NFT marketplace, onXRP.com, following the XLS 20 release.

On Oct. 17, XRPL saw the launch of its first EVM sidechain, developed by blockchain development firm Peersyst Technologies. The EVM-compatible sidechain was launched on the devnet, which marks the first step of a three-part process.

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