XDC rises after euro-backed stablecoin EURS joins network
The XDC network was up almost 6% in 24 hours after announced it would integrate with STASIS, the issuer of one of the largest euro-backed stablecoins, to allow the EURS stablecoin on the XDC Network
XDC is a platform that describes itself as a EVM-compatible layer-1 hybrid blockchain solution that was created to support the global trade of business and finance.
Its market cap rose by around 20% after the integration was announced. At the time of writing, after drifting slightly from its peak for the day, XDC was trading at $0.02711, up just under 5% in the previous 24 hours.
XDC to USD
A Medium blog post by STASIS, promoting the STASIS coin, outlined the need for organisations to provide greater transparency at a time when uncertainty and volatility continue to dominate the crypto sector, and to ensure that users can remain as risk-free as possible.
The blog post said: “Many stablecoin companies have tried to penetrate the market with various models, struggling to achieve notable adoption. By 2022, the STASIS-issued EURS has cemented its place as the most reliable asset in the euro stablecoin segment and even beyond for users, businesses, traders, merchants and pretty much everyone else involved in the cryptocurrency domain.”
XDC Network's native token, $XDC, has been dubbed one of the most antipcated tokens to watch for 2022 by investors, alongside projects such as Toncoin ($TON) and OKC Token ($OKC).
???? STASIS Brings the Largest Euro Stablecoin to @XinFin_Official to Boost #Web3 Payments— STASIS/EURS (@stasisnet) December 8, 2022
???? We have completed #XDC Network integration for #EURS!
???? Read the whole story on Medium page. RT & like this post!https://t.co/mPqNDhqOou#XDCNetwork #XDCcommunity #fintech #Crypto pic.twitter.com/knBEHpMK9d
STATIS’s chief executive, Gregory Klumov, commenting on the partnership, said that now, more than ever before, companies are realising the “importance of transparency.”
Klumov said: “With the help of XDC, EURS gained support of new powerful tools and a new global community and enterprise participants. By now, we have enforced our brand sufficiently to see the need for our stablecoin become apparent in world markets. More companies are realising the importance of transparency, and this is a confirmation that we are doing our job right — educating the cryptocurrency community and improving the financial inclusion within Web 3.0.”