Ripple’s XRP Ledger (XRPL) now supports the leading EURO-pegged stablecoin, EURS, on the STASIS platform. The STASIS team reports that the incorporation of the EURS on the Ledger, which began in February, finished on November 1st.
EURS is the most widespread EURO stablecoin, ranking globally in the top ten stablecoins. Also, it has thousands of holders across the globe. Ripple foundation and the XRPL team offered STASIS technical support for this EURS integration. Meanwhile, STASIS is not sitting on its recent achievement.
The company will move into another phase to explore more opportunities. According to STASIS, it will work on integrating architecture for cross-border payments. Ripple will also offer technical support for STASIS’ upcoming initiative.
Gregory Klumov, the CEO of STASIS, talked about the recent achievement. He noted that they had added another “brick” to the EURS foundation.
Klumov said this integration would help prepare the EURS for more adoption in the stablecoin market. According to the CEO, STASIS will explore more opportunities with XRP. The aim is to increase financial inclusion and stablecoin services and infrastructure for the Web3 sector.
STASIS, created in 2017, functions as an interface to authorized financial intermediaries. Meanwhile, the fintech firm has several achievements. For example, it is the issuer behind the biggest non-USD stablecoin and has a valuation of about $5 billion.
The EURS, like most stablecoins, depends on a multichain framework. The XRPL is the newest addition to such a framework.
Integration Of NFTs On XRP’s Ledger
According to the company’s team, XRP’s Ledger is a blockchain that offers several benefits. The benefits include reduced cost, increased speed, and expanded scalability.
Meanwhile, 65.6M EURS stablecoins have been issued on the Ether blockchain through an ERC-20 standard. Also, 4.8M EURS were issued on the MATIC blockchain and 461T EURS on Arbitrum.
In addition, 100,000 EURS have been launched on the Algorand blockchain. Currently, just 100,000 EURS were used on Ripple’s XRPL.
In other news, about 80% of trusted validators supported Ripple’s XLS-20 amendment. This led to the integration of NFTs on the XRPL mainnet.
This amendment is good news for developers and creators. Finally, developers can build apps that enable users to transfer, burn, and mint NFTs on the XRPL.
David Schwartz, Ripple’s CTO (Chief Technology Officer), tweeted they have already minted some NFTs on the Ledger. He added that this is not the first tokenization on the XRPL.
However, Schwartz acknowledged this as a massive milestone for creators and developers. It would help them to tokenize assets and develop innovative Web3 initiatives with more utility.
The CTO further said the new benchmark adds native NFTs to XRP’s Ledger to symbolize unique assets. In addition, it introduces safe and fast operations to list, transfer, and store such tokens.
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