A look at the world of stable coins: EURS vs USDC

As has long been known, stable coins are becoming increasingly popular in the blockchain sector because, unlike conventional cryptocurrencies, their value is pegged 1:1 to the value of a particular fiat currency.
This characteristic makes them stable, thus offering a viable alternative as a means of payment. It is no coincidence that central banks are also studying the phenomenon of stabelcoins and expect to increasingly encourage their adoption.

EURS: Europe's leading euro-backed stablecoin

EURS is the largest euro-backed digital asset launched by STASIS in 2018. EURS combines the advantages of fiat euros, the second most traded currency in the world, with the transparency, immutability and efficiency of blockchain.
Indeed, Stablecoin is supported by an ecosystem of liquidity providers, custodians, exchanges, payment platforms and many others. In particular, EURS is an ERC/EIP20 token and the first Stablecoin to introduce delegated payments on the Ethereum network.
With these features, with EURS, users will no longer have to pay GAS fees to make money transfers, but instead will be able to pay for transactions in EURS or any other digital asset supported by the STASIS wallet, which is a huge improvement to the user experience.
Not only that, but it should also be emphasized that STASIS enjoys the status of a trusted stabelcoin provider because the company has developed a proven process for interacting with traditional financial systems.

Comparison with USDC

USDC is a Stablecoin, pegged in this case by value to the U.S. dollar.
Therefore, on the same principle as EURS, USDC also maintains a stable value when other cryptocurrencies fluctuate in value.
Moreover, USDC originally worked exclusively on the Ethereum blockchain (ETH), now it also works on other blockchains, including Solana, Avalanche, Algorand, Cosmos and others.
Thus, just as it works for EURS with the euro, in the case of USDC users can tokenize the dollar, making it usable in transactions on blockchain, cryptocurrency exchanges and other platforms.
Moreover, USDC tokens can be easily exchanged for fiat currency and were developed by Circle and Centre.
However, while USDC has rarely sinned when it comes to security in its history, it recently had more than one problem after Silicon Valley Bank closed after its bankruptcy.
Then, in March, that's when Stablecoin issuer Circle itself said it had $3.3 billion stuck in a commercial bank, SVB.
And given that USDC's total market capitalization was about $43.5 billion, that meant that more than 7.5% of USDC's reserves became unavailable.
While the situation has since resolved, it is inevitable that this announcement alarmed more than a few seasoned investors at the time, who may have turned away from USDC and headed toward other stable coins.
This particular incident with USDC may provide a better understanding of why STASIS created a stable coin infrastructure using central bank accounts such as EURS rather than leveraged commercial banks.