Through a new partnership with STASIS, real-time paychecks on the WorkChain.io network will soon be available in the euro-backed stablecoin EURS.

Backed one-for-one by euro reserves, EURS allows users to harness the benefits of on-chain transactions, while maintaining the price stability of fiat currency. The availability of EURS paychecks adds further payment flexibility to the WorkChain.io real-time payroll ecosystem.

The partnership will enable the millions of workers who get paid in euros to seamlessly switch to EURS and enjoy the speed, security and decentralization of cryptocurrency, while maintaining a seamless link with traditional fiat markets.

WorkChain.io CEO Ryan Fyfe said the partnership expands the options for instant paychecks and gives those in the EU greater access to cryptocurrency.

“More than 300 million people use the euro daily. Our partnership with STASIS will give many of them the opportunity to easily get paid in cryptocurrency,” Fyfe said.

“The beauty of cryptocurrency is that it naturally crosses borders. With our strong focus on the EU market, the adoption of EURS on our platform provides an important link between cryptocurrency and the traditional EU financial markets.

“We’re really excited to build the partnership with Stasis. In terms of security, oversight and legal structure, EURS is a clear standout among stablecoins and is a natural fit for our platform. It also adds even more flexibility and functionality to the WorkChain.io payroll ecosystem.”

“By facilitating employee payments using stable coins, the team at WorkChain.io is helping extend the practical use of such tokens beyond cryptocurrency trading and into the everyday financial lives of regular people,” said Gregory Klumov, CEO of STASIS.

“As such, they are doing a great service not just to their clients, but to the cryptocurrency ecosystem as a whole.”

With its collateral-based price stability, EURS curbs the extreme volatility inherent to many cryptocurrencies. As well as providing stability to those wanting to earn cryptocurrency, its compatibility with the traditional financial system allows professional investors to access the cryptocurrency market in a manner similar to how they operate in traditional markets.

STASIS ensures the one-for-one collateral reserves behind EURS through daily counterparty statements, quarterly verification by a top five global auditing company, as well as on demand verification from a top five company when an entity is onboarded.

For workers, the STASIS partnership means being able to choose to earn their euro-based paycheck in cryptocurrency. Then, using the functionality of the WorkChain.io Wallet, they can convert EURS to fiat, spend it directly or save on the platform.

For employers who process payroll in euros, EURS provides the opportunity to pay workers instantly and effortlessly using WorkChain.io’s real-time payroll platform.

EURS is the second stablecoin selected for use on the WorkChain.io platform, following a similar recent partnership with TrustToken to use the company’s TrueUSD stablecoin, which is backed one-for-one by US Dollars.

The euro is the second largest and second most traded currency in the foreign exchange market after the US dollar and is used by 343 million people. This prominence makes it a logical currency for adoption on the WorkChain.io platform.