Paris-based fintech startup Next Generation has announced the successful closure of a $5 million seed funding round aimed at launching a blockchain-powered B2B payment platform.
The round attracted international support, including investors from Cyprus, Austria, and a well-known European entrepreneur.
The capital injection will fund the development of a MiCAR-compliant ecosystem designed to revolutionize cross-border business transactions through the use of a Euro-pegged stablecoin, EURT.
Positioned at the intersection of traditional finance (TradFi) and digital innovation, the platform will offer features like direct integration between IBAN bank accounts and crypto wallets, removing the need for intermediaries and reducing transaction friction for businesses.
Launching a Euro Stablecoin and Acquiring Lugh Financial Services
A key milestone in the company’s roadmap is the relaunch of the EURT stablecoin, pegged 1:1 to the euro and engineered to operate under the EU’s Markets in Crypto-Assets Regulation (MiCAR) framework.
To ensure regulatory compliance and strengthen its licensing credentials, Next Generation has acquired Lugh Financial Services, a licensed French Digital Asset Service Provider (DASP) formerly owned by retail giant Casino Group.
The company is also pursuing registration as an Electronic Money Institution (EMI), which will enable it to distribute its stablecoin through regulated channels across Europe.
These moves underscore the company’s commitment to compliance and its readiness to operate within the EU’s evolving digital finance landscape.
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Strategic Acquisitions Bolster Growth and Regulatory Readiness
Next Generation’s CEO, Suren Hayriyan, highlighted that the firm’s aggressive acquisition strategy plays a pivotal role in its expansion.
Acquiring specialized firms like Lugh not only facilitates regulatory compliance but also accelerates product development by incorporating proven technologies and expertise.
Hayriyan emphasized that this model reduces operational overhead and shortens the time-to-market, ultimately delivering higher value to shareholders.
The company sees these acquisitions as integral to building a future-proof fintech ecosystem capable of addressing complex challenges such as anti-money laundering (AML) compliance, cybersecurity, and cross-platform interoperability.
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Stablecoin Market Potential and Vision for the Future
Despite euro stablecoins representing only a small fraction of the $200 billion global stablecoin market, Next Generation anticipates substantial growth in the sector, projecting it to reach $11 billion by 2027.
The company aims to seize this opportunity by positioning its EURT stablecoin as a secure, regulatory-compliant option for European businesses and institutions. USDC stablecoin supply surpasses $60B market cap, doubling year-over-year as stablecoin market hits $230B
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With over $10 million in pre-launch Total Value Locked (TVL) already pledged by global partners, the firm is preparing for strong market demand.
Looking forward, Next Generation plans to raise additional funding rounds to expand its platform globally, supporting its mission to offer borderless, efficient, and near-instant business payments via blockchain infrastructure.