Schuman Financial has introduced EURØP, a euro-backed stablecoin designed to revolutionize global digital payments, on-chain foreign exchange trading, and tokenized real-world assets.
Fully pegged to the Euro at a 1:1 ratio and backed by cash and cash equivalents, EURØP aims to meet the growing demand for regulated stablecoins in Europe.
Schuman Financial Launches EURØP
The launch of EURØP follows Schuman Financial’s successful $7.36 million seed funding round in September 2024, led by RockawayX. The funding round saw additional support from prominent investors such as Lightspeed Faction, Kraken Ventures, Nexo Ventures, Gnosis VC, Delta Blockchain Fund, and Bankless Ventures.
The Future of Euro-Denominated Digital Finance
According to Schuman Financial CEO Martin Bruncko, the global euro-denominated financial services represent about a third of the financial services market, traditionally dominated by the US dollar.
As more financial services move on-chain, the euro’s role in the digital asset space is expected to expand significantly. Bruncko noted, “We can already see increased interest in stablecoin payments, and this use case is just starting to take off.”
EURØP’s entry into the market is timely, as it addresses this rising demand for euro-pegged digital assets. It offers a stable and transparent method for transferring value and conducting digital transactions, all while ensuring that the euro remains relevant in the increasingly digital global economy.
Blockchain Integration and Future Plans
Initially launching on the Ethereum and Polygon blockchains, EURØP will eventually expand to additional blockchain integrations. Schuman Financial also has plans to establish partnerships with DeFi protocols, which will further enhance the stablecoin’s utility.
In the coming months, EURØP will be listed on major European crypto exchanges and supported by top digital asset custodians, market makers, and service providers.
Schuman Financial has become the first European company to obtain a stablecoin issuer license in France. The license, granted by the Autorité de Contrôle Prudentiel et de Résolution (ACPR), under the EU’s Markets in Crypto-Assets (MiCA) regulation, enables the company to issue e-money tokens pegged to any currency across the European market. This regulatory approval is a significant milestone, as it allows Schuman Financial to issue stablecoins with legal backing across Europe, ensuring confidence and compliance in the digital finance space.
EURØP represents a significant step forward for the future of digital finance in Europe, offering a stable and regulated alternative to traditional cryptocurrencies.
As Schuman Financial continues to expand its services and integrate with major blockchain networks and DeFi protocols, EURØP could play a crucial role in shaping the future of on-chain euro-denominated transactions.