The largest euro-backed stablecoin in the crypto ecosystem is now available on Ripple’s XRP Ledger (XRPL). According to the STASIS team, the integration on the XRPL, which began in February, was completed yesterday.
EURS is the leading Euro stablecoin and ranks among the top 10 stablecoins worldwide with tens of thousands of users. Along with the XRPL Foundation and Community, Ripple provided STASIS with the technical support to make the integration possible.
STASIS was founded in 2017 and acts as a strategic interface to licensed financial intermediaries. With a transferred value of over $5 billion, the fintech company is also the issuer of the largest non-USD stablecoin
So far, EURS stablecoins were issued mainly on the ethereum blockchain via the ERC-20 standard (65.6M EURS), as well as via the layer-2 solutions from Matic (4.8M EURS) and Arbitrum (461T EURS). At the time of writing, only 100,000 EURS had been issued on Ripple’s XRP Ledger, the same amount as on Algorand.
In other news for Ripple, the XLS-20 amendment to integrate NFTs was supported by over 80% of trusted validators, activating it on the XRP Ledger mainnet. With the amendment, developers can now create applications that allow users to mint, transfer, and ultimately burn NFTs on the XRP Ledger.