Country for PR: United Kingdom
Contributor: PR Newswire Europe
Friday, December 07 2018 - 05:20
AsiaNet
STASIS Announces BDO Malta as Statutory Auditor and Cash Reserve Verifier
ST. JULIANS, Malta, December 6, 2018 /PRNewswire-AsiaNet / --

    On Thursday, STASIS announced BDO Malta as its statutory audit partner. BDO 
Malta [https://www.bdo.com.mt/en-gb/home ] will provide interim quarterly and 
annual statutory audits for STSS Malta Limited. Additionally, they will provide 
weekly cash reserve verification, up until a pre-agreed point in time - an 
unprecedented level of third-party verification in the stablecoin space.

         (Logo: https://mma.prnewswire.com/media/794828/Stasis_Logo.jpg )

    STASIS [https://stasis.net ] now provides EURS token-holders with four 
streams of reserve verification: daily statements provided by STASIS; weekly 
cash verification by BDO Malta; interim quarterly and annual statutory audits 
by BDO Malta; and on-demand access to STASIS' books for an onboarded partner.

    STASIS has done everything within its power and control to ensure it brings 
the highest standard of trustworthiness and confidence to the verification of 
its reserves, further elevating the EURS token as the most reliable option in a 
growing stablecoin industry.

    BDO's global organization includes 1,500 offices in 162 countries and 
territories, which cooperate closely and share the same operating principles 
and quality standards. As such, the firm offers clients a deep understanding of 
local markets and specific industries.

    "For any industry to succeed in the long run, financial integrity is a 
must," said Sam Spiridonov, Audit Partner at BDO Malta. "Stablecoins are no 
exception."

    For every EURS stablecoin in circulation, STASIS holds a fiat euro as 
collateral in the reserves. These reserves allow EURS holders to be confident 
that the digital asset will maintain price parity with the euro. As such, it is 
extremely important that the reserves are transparent and routinely verified.

    "As part of our mission to make cryptocurrency markets safe and accessible 
for institutional investors, we understand the importance of reducing 
counterparty risk at every stage of the process," says Gregory Klumov, CEO of 
STASIS.

    "By working with such a well-respected firm, we will be able to provide 
investors with an unrivaled level of confidence in the EURS token. No other 
EURO stablecoin provider offers such robust verification streams."

    STASIS aims to provide institutional investors with access to the new 
digital asset class ushered in by cryptocurrencies. The company's team has deep 
experience in finance, technology and regulation, including launching the first 
bitcoin fund in 2012 and working with the Maltese government to help shape the 
nation's virtual currency legislation.

    BDO Malta 

    BDO Malta is a member firm of BDO International - "The Leader for 
Exceptional Client Service."

    BDO Malta is a fully fledged corporate services firm assisting 
international and Maltese clients in transactions, tax, licensing for regulated 
businesses, fintech and ICOs, company administration, advisory and consulting 
as well as other corporate requirements. For more information, visit 
http://www.bdo.com.mt.

    STASIS 

    Stasis is a tokenization platform designed to bridge the gap between 
traditional finance and cryptocurrency markets. Its first product, EURS, is a 
fully collateralized, euro-pegged stablecoin. Launched in July 2018, EURS 
currently has a market cap of over EUR27 million and is a top 100 digital asset 
by market cap. For more information, visit stasis.net [http://www.stasis.net ]. 


Source: STASIS