This initiative could accelerate institutional crypto adoption in Europe and expand the use of euro-based digital assets. At the same time, banks intend to offer customers faster, safer, and lower-cost payment options.

Consortium and Licensing Process

The consortium of European banks is applying for a license as an e-money institution based in the Netherlands and supervised by the Dutch Central Bank.

This process will ensure the stablecoin operates within a legal framework and fully complies with the EU’s Markets in Crypto-Assets (MiCA) regulations. Consortium officials say this step will increase trust in financial transactions across Europe and strengthen the digital asset ecosystem.

“The launch of a euro-denominated stablecoin is an important step to reduce transaction costs and increase the use of digital assets among institutional investors,” said a consortium representative.

Euro-Backed Alternative to USD Coins

One of the main goals of the stablecoin is to provide Europe with a euro-backed alternative to U.S. dollar coins, strengthening the region’s strategic independence in payments. Europe’s cross-border payments market is substantial, expected to exceed $250 billion in 2025 and reach $320 billion by 2030.

While stablecoins are rapidly growing, with a market size of $290 billion this year, euro-backed coins currently make up less than 1%. This highlights the clear gap the consortium aims to fill. Launching a euro-based stablecoin could provide strategic advantages for the European economy and enhance digital financial sovereignty.

Stablecoin Launch and Institutional Adoption

The stablecoin launch will be carried out in accordance with the EU MiCA framework, which comes into effect from December 2024. Euro-based stablecoin transactions are designed to meet the growing demand among institutional investors seeking an alternative to USD-pegged assets. In particular, European financial institutions plan to integrate digital assets into traditional banking products, offering more flexible and faster financial solutions.

Banca Sella has partnered with Fireblocks to launch an internal pilot project testing custody services for stablecoins. These initiatives demonstrate that banks are committed to developing innovative financial products and increasing engagement with digital assets.

Future Expectations

The launch of a euro-denominated stablecoin is expected to accelerate the adoption of blockchain-based financial solutions in Europe. Banks’ investment in digital assets may drive higher institutional demand and reduce costs in financial transactions.

In the coming years, euro-backed stablecoins could become a widely used payment method, especially for cross-border and corporate transactions. These developments signal a faster digital transformation in the European banking sector and broader adoption of blockchain-based innovations.

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What is Statis Euro (EURS)?

Statis Euro (EURS), as part of the STASIS ecosystem, implements frameworks that merge the benefits of digital assets with the best features of traditional finance. The EURS token serves as the on-chain reflection of the euro and is backed by liquidity assurance mechanisms. Users can generate EURS using securities instead of currencies and vice versa. This allows users to obtain EURS by selling securities to STASIS’s liquidity-providing partners, bypassing bank-level transactions.

STASIS brings a liquidity cushion to markets; EURS’s market depth is significantly broader than that of standard crypto assets. While cryptocurrencies are limited by their circulating supply and free float, STASIS can tokenize any amount of capital. The platform utilizes the Ethereum blockchain, recognized by the professional community as the most reliable network, with the cost of compromising a transaction estimated at billions of euros.

STASIS is a Europe-based fintech company offering Web3 tools for institutional and retail clients. EURS is robust internet money for the EU and beyond, recognized as the most transparent euro-based stablecoin. Backed 1:1 by liquid financial instruments, it reinforces investor trust with four verification streams.

Legal Framework and Compliance: STASIS operates under EU and Swiss legal frameworks with a 6-year successful track record. Strict regulatory compliance since inception and treasury management tools enable service in 175 countries, fostering seamless connections between customers and businesses to promote financial freedom and crypto inclusion.

Blockchain Interoperability: STASIS infrastructure supports fiat on-/off-ramping on six popular blockchains—Ethereum, Polygon, XDC, XRPL, Algorand, and Stellar—bridging assets to enhance financial efficiency, secure the best rates for targeted crypto, and leverage arbitrage opportunities across the Web3 sector.

Purpose of Statis Euro (EURS)

STASIS offers the euro stablecoin EURS as an alternative to USD stablecoins in the digital asset space. Founded in 2018, the STASIS Foundation, based in the Isle of Man, employs a collateralized debt obligation (CDO) system to back stablecoins with fiat reserves. It ensures stability through transparent and auditable processes, used for online payments, remittances, and trading on crypto exchanges.

The name STASIS, derived from physics, refers to balance or stasis, maintaining the value of tokenized assets amidst shifting regulatory and economic environments. Its business model includes fees (stablecoin buying/selling), custom solutions (for financial institutions), white-label solutions (technology licensing), and reserve management (yield from custodians). These revenues support platform development and maintenance.

Reserve Management: Managed by STASIS Malta, reserves are held in 100% liquid euro balances or cash during positive interest rate periods. The transparency page provides reserve details and daily account statements.

Headquarters: STASIS is headquartered in Malta, a small Mediterranean island nation known as a blockchain-friendly jurisdiction, attracting crypto companies. Its EU location facilitates access to the European market. The team, composed of European employees spread globally, reflects Web3’s decentralized spirit and European values.

How Statis Euro (EURS) Works

EURS is the digital equivalent of the euro, backed 1:1 by euro reserves. It operates on five blockchains—Ethereum, Polygon, Algorand, XRPL, XDC—and two bridges, Arbitrum and Gnosis Chain. Circulating EURS is viewable on-chain via the official website or external sources, with four transparency levels: daily statements, quarterly verifications, annual audits, and on-demand verifications.

Obtaining EURS: Available through STASIS’s proprietary on-ramp solution or secondary markets (CEX/DEX). Sales occur on popular crypto exchanges.

EURS Usage:

• Store of value (pegged to the euro, an alternative to volatile cryptocurrencies).
• Payments and remittances (fast, low-cost cross-border transactions).
• Hedging against market volatility (euro-pegged stability).
• Trading on crypto exchanges (paired with Bitcoin, Ethereum, etc.).
• DeFi (staking, liquidity provision, lending, farming—crypto analogs of traditional deposits).

EURS Listings: Listed on dozens of CEX/DEX platforms, including CryptoMarket, HitBTC, Changelly, MtPelerin, Stablehouse, Curve, AAVE, CEX.IO, Geco.One, and others. The updated list is available on the website’s “Network” section and social media.

CBDC (Digital Euro) Impact: A digital euro could compete with EURS (ECB-backed, potentially more trusted). However, it may increase demand for digital assets, familiarizing people with euro-backed digital currencies. Private stablecoins like EURS may gain trust compared to CBDC’s stricter regulations.

Supported Wallets: MetaMask, Exodus, Monolith, Argent, SafePal, Coinomi, and the native STASIS Wallet.

STASIS Stablecoin Wallet: While developing EURS, STASIS sought a simple, user-friendly wallet for digital asset transactions. Unable to find one meeting their standards, they built their own non-custodial STASIS Wallet.

Statis Euro (EURS) Use Cases

For Web2 & Web3 Companies: EURS is a neutral, transparent financial instrument with no conflict of interest with businesses, banks, or exchanges; it undergoes daily audits since inception and is 100% backed by liquid instruments.

Use Cases:

• DeFi Yield: Holding company funds in EURS instead of euros is more profitable, offering higher returns than traditional banking and instant liquidity for seamless transactions.
• Cross-Border Crypto Settlement: Global reach without intermediaries, instant settlement, and flexibility to convert EURS into any currency.
• Crypto Arbitrage: Leverage trading and investment opportunities with EURS on CEX/DEX, ensuring flexibility and profitability.
• Crypto Payments and Acquiring: Instant customer payments without reliance on bank acquiring, popular in online, crypto, NFT marketplaces, travel agencies, and card providers.
• Stablecoin-as-a-Service: White-label stablecoin solutions for fiat- or commodity-pegged branded digital currencies with extensive capabilities.

Statis Euro (EURS) Tokenomics

EURS is 100% backed by euro reserves:

• Circulating EURS Amount: 17,364,968 EURS.
• Distribution Across Settlement Layers:
  • Ethereum L2 Arbitrum: 12,795.04
  • Ethereum L2 Matic: 3,889,835.71
  • XDC Network: 0.00
  • Ethereum L2 xDAI: 2,228.90
  • Algorand: 65,163.00
  • Stellar: -20,486.00
  • Ethereum ERC-20: 17,310,291.14
  • XRP: 10,000.00

STASIS ensures EURS’s flexibility to avoid inefficiencies of single-layer solutions, unlocking the full potential of distributed ledger technologies.

Statis Euro (EURS) Partners

EURS partners include YouHodler, NexPay, Wirex, Propine, Klarpay, SCB, and HexTrust.

Statis Euro (EURS) Team

STASIS, a European fintech company founded in 2018, is managed by the STASIS Foundation based in the Isle of Man. The team, composed of European employees spread globally, embodies the Web3 spirit. Headquartered in Malta, a blockchain-friendly jurisdiction, it leverages its EU location to serve the European market.

Official Links

• Website
• X (Twitter)

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This decision was largely anticipated by the markets and is being interpreted as laying the groundwork for a potential rate cut later in the year. The impact of the decision was immediately felt in the cryptocurrency markets as well.

Weak Signals of Economic Growth

Data from the private sector in the 20-member Eurozone suggested a mild recovery despite ongoing stagnation in major economies like France and Germany. However, the pace of growth remains weak.

At the same time, unemployment rates across the region continue to hover at historically low levels. Inflation is also near target, with annual inflation recorded at 2% in June—slightly up from 1.9% in May.

Inflation Rising in the U.S. and U.K.

Meanwhile, inflation in the U.S. rose to 2.7% in June, exceeding expectations, compared to 2.4% the previous month. In the United Kingdom, inflation reached 3.6%, indicating a more aggressive price surge compared to Europe.

These developments make the ECB’s decision to hold rates steady even more significant. However, reports from Washington suggesting possible tariff hikes—especially on steel—are raising concerns. With additional tariffs of up to 50% being discussed, many companies are reportedly postponing investment and employment plans.

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Lagarde highlighted the volatility and lack of regulation of Bitcoin and other cryptocurrencies, which could pose risks to economic stability. She emphasized that Bitcoin could never replace more traditional and stable currencies like the Euro as a reserve asset.

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Her comments have sparked significant reactions in the EU’s crypto market. While Bitcoin and other cryptocurrencies are gaining global popularity, the stance of central governments and financial authorities is shaping up. However, Lagarde reiterated that the ECB will continue to support the Euro as a stable reserve currency.

The future of cryptocurrencies and their role in the financial system remains uncertain in the EU, but Lagarde believes that Bitcoin and similar digital assets are too volatile and risky to challenge the foundations of the current financial system.

The future of Bitcoin and cryptocurrencies remains a hot topic on the agenda of central banks worldwide. Yet, Lagarde’s statement marks the EU’s distancing position toward Bitcoin and other digital currencies.

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Hong Kong‘s proposed Stablecoins Bill has entered the Legislative Council, moving the region closer to establishing a comprehensive regulatory regime for stablecoins.

On December 6, the Hong Kong government published the bill in the special administrative region’s Gazette, taking it a step closer to becoming law. On December 18, the bill was forwarded to the Legislative Council of Hong Kong for its first reading.

Before the bill is signed into law, it must go through three readings, a process that includes debates, examinations, and potential amendments. Once the bill passes the third reading, it will be forwarded to the region’s chief executive, who can sign it into law.

Key Components of the Bill

According to law firm King & Wood Mallesons, the Stablecoins Bill has three key components. These include licensing and requirements for stablecoin issuers, specific stablecoin offering and marketing restrictions, and broader consumer protections.

If the bill is enacted, stablecoin issuers in Hong Kong will need to obtain a license from the Hong Kong Monetary Authority (HKMA), the region’s central bank. Issuers must comply with comprehensive requirements to obtain a license.

The regulator will evaluate the issuer and its controllers, resources, stablecoins, reserve assets, and the mechanisms stabilizing its value. Only regulated entities and platforms will be allowed to offer stablecoins in Hong Kong or market them to the public.

The bill provides consumer protections affecting various market participants, including issuers and distributors.

MiCA-Compliant Stablecoins Dominate Europe

If the bill is enacted, Hong Kong may experience a transformation in stablecoin usage similar to the shift seen in Europe when the Markets in Crypto-Assets (MiCA) regulations came into force.

On December 18, research firm Kaiko and Netherlands-based crypto exchange Bitvavo reported that the introduction of MiCA led to a significant change in the stablecoin landscape in the region.

While issuers like Tether discontinued their Euro-backed stablecoins, compliant issuers thrived. By November, MiCA-compliant stablecoins captured the majority of the market, with Circle, Societe Generale, and Banking Circle’s stablecoins holding 91% of the market share by late 2024.

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Cryptocurrency Market: Major Unlocks and Key Announcements

• $FLOKI token will make a major marketing announcement on Monday. This could impact the token’s market activity and attract investor attention.
• $AVAX will release 1.67 million tokens (valued at around $53 million) on Monday. This unlock represents 0.23% of AVAX’s total supply and may lead to price fluctuations.
• $ROSE token will also unlock 176 million tokens (worth $14 million) on Monday, representing 1.76% of the total supply.
• $PIXEL will unlock 54.95 million tokens on Tuesday, which constitutes 1.10% of its total supply.
• $ENA will release 12.86 million tokens (valued at $7 million) on Wednesday, accounting for just 0.08% of its total supply. Despite this small proportion, it may create market impact.
• $ID will unlock 18.49 million tokens (worth $7.5 million) on Friday, representing 0.92% of the total supply.
• $FIDA will release 18.21 million tokens (worth $5 million) on Saturday, constituting 1.82% of its total supply. This could present new opportunities for investors.

Critical Data and Events in the Forex Market

Tuesday (November 19):

• The United Kingdom will release its Monetary Policy Report, and the speeches of central bank officials could significantly affect the market. Additionally, the Consumer Price Index (CPI) data for Canada will be released, with an expected 0.4% drop in inflation, which could impact the Canadian Dollar.
• In the United States, Building Permits data will be published, reflecting the health of the construction sector. A higher-than-expected figure could indicate economic recovery. Moreover, CFTC Chairman Behnam’s speech may introduce volatility in the markets.

Wednesday (November 20):

• The United Kingdom will release its CPI data, with an expected annual inflation rate of 2.2%. This could impact the British Pound.

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• In the Eurozone, ECB President Christine Lagarde will give a speech, which could be crucial in understanding the pressures on the Euro and potential interest rate changes.

Thursday (November 21):

• In the United States, the Philly Fed Manufacturing Index and Unemployment Claims data will be released. These figures could be decisive for short-term dollar movements. Additionally, CB Leading Index and Existing Home Sales data will offer insights into the future of the U.S. economy.

Friday (November 22):

• In the United States, Existing Home Sales data will be released, followed by the Consumer Confidence Index, which will provide critical information on consumer spending and the housing market, thus affecting the broader economic outlook.

Analysis of the Week’s Key Events

The period from November 18 to November 22 is marked by significant token unlocks in the cryptocurrency market and the release of important economic data in the Forex market. Investors should pay close attention to central bank announcements and inflation data, as they could have a major influence on market sentiment.

In the cryptocurrency market, the unlocking of tokens could lead to short-term price volatility, so careful monitoring of these events is essential. The upcoming central bank speeches and token releases could shape the market’s direction, creating opportunities but also risks. Therefore, developing a cautious strategy and closely analyzing the data will be crucial.

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This decision comes after a period in which Binance, which also had to end its collaboration with PaySafe in September, began to search for new banking business partners to deal with regulatory difficulties and financing issues in the European Union. Binance indicated that users have already started to switch to services offered by a “range of new regulated and authorized fiat transaction partners”. However, it did not provide detailed information about the companies it collaborated with.

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Binance’s UK Fiat Transaction Woes

In the announcement, it was stated that the fiat services offered by the new partners included EUR deposit and withdrawal transactions through Open Banking and SEPA/SEPA Instant.

Users can buy and sell cryptocurrencies using SEPA (Single Euro Payment Area), bank cards, and fiat balances and can trade with EUR spot pairs. At the end of September, Binance had suggested its European users to convert their euros to Tether by the end of October. However, the latest announcement may show that this process is no longer necessary.

However, even after the announcement, some users continued to have problems depositing euros, while others started asking questions about fiat transaction partners for the British pound in the UK. In May, due to concerns of the UK financial regulators about the partnership, Paysafe withdrew support for transactions in British pounds.

On October 16th, Binance temporarily suspended access to the exchange for new users based in the United Kingdom. This move came after the termination of a partnership with a third party to fulfill the requirement of the country’s financial regulatory body, the Financial Conduct Authority (FCA), to approve communications on its platform.

For now, Binance has not yet established fiat transaction partnerships for the UK exchange, where its users in the UK cannot deposit British pounds.

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