Malta-based start-up STASIS is combining the vast potential of the cryptocurrency market with the stability and reliability of traditional currencies through tokenization, a process of representing real-world assets on the blockchain.
“Since 2017, more than 200 teams worldwide have announced developments of cryptocurrency projects backed by assets, such as fiat currencies or precious metals, to put volatility factors out of the equation. Still, as of the date, very few projects have delivered a working product,” explains Gregory Klumov, CEO and Founder of STASIS, in the latest edition of D.
“Our team’s track record, expertise, and full-scale market research became the right combination that helped us launch a leading tokenization platform.”
Mr Klumov believes that being based in Malta and establishing a trusted partnership with the top auditing firm BDO has helped STASIS gain a greater foothold in the crypto market. STASIS EURS – the company’s own stablecoin – currently stands as the largest non-USD digital asset on the market.
Having launched from a European Union member state, STASIS now serves as a bridge between decentralised finance and the off-chain market within the EU.
The Maltese Government even invited the STASIS team to act as a consultant to shape the MFSA’s Virtual Financial Assets Framework, which supports innovations and new technologies for financial services in the area of crypto assets.
“Malta has become an EU-leading hub that embraces digital innovations. We’ve been happy to launch the most transparent stablecoin from this country,” Mr Klumov adds.
The advent of cryptocurrencies has inspired a tandem boom in the FinTech sector, with a range of digital start-ups developing innovative products which are transforming how businesses and individuals conduct their banking online.
This forms part of a wider feature carried in the latest edition of Digital Island.
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