As the EU prepares for the full implementation of the Markets in Crypto-Assets Regulation (MiCA), the digital currency ecosystem will welcome a new player: EURØP, a euro-backed stablecoin launched by Schuman Financial.
Former Binance executives Martin Bruncko and Eduardo Morrison founded Schuman Financial, which officially launched its first product after entering stealth mode. EURØP intends to meet the increasing demand for compliant stablecoins in Europe and internationally.
A Milestone in Euro Stablecoins.EURØP is linked 1:1 to the euro and fully backed by cash and cash equivalents. We designed the stablecoin for a variety of use cases, such as digital payments, on-chain foreign currency trading, and tokenized real-world assets. Web3 venture capital firm RockawayX led a successful €7 million seed funding round, with additional participation from Lightspeed Faction, Kraken Ventures, and others, leading to the debut.
EURØP will initially launch on Ethereum and Polygon networks and is likely to be listed on major European cryptocurrency exchanges. The company also intends to grow into additional blockchain networks and interface with decentralized finance platforms in the near future.
Limited access in high-risk regionsHigh-risk regions such as Iran, North Korea, Venezuela, and Russia will not receive EURP offerings. The company has compiled a prohibited list of 107 countries using data from organizations such as the Financial Action Task Force and the European Union.
A strong commitment to compliance.Salvus SAS, a subsidiary of Schuman Financial, obtained a stablecoin issuer license in France after acquiring an electronic money institution. This license, authorized by France’s Prudential Supervision and Resolution Authority, enables the company to produce e-money tokens pegged to any currency in Europe.
The company intends to create a strong ecosystem that includes connectivity with the Single Euro Payments Area (SEPA), banking partnerships with major financial institutions such as Société Générale, and custody services for secure asset storage.
Driving Innovation in Digital Finance.Schuman Financial’s introduction of EURØP highlights the growing significance of regulatory compliance in the cryptocurrency industry. The MiCA framework provides a robust foundation for EURØP, enhancing the euro’s role in the digital economy and meeting the growing demand for transparent, safe, and compliant stablecoins.
