Schuman Financial has launched its euro-backed stablecoin, EURØP, directly on the XRP Ledger (XRPL), making it the first MiCA-compliant euro stablecoin available on this blockchain.
According to the press release on Ripple’s page, EURØP is fully backed by euros and can be redeemed at any time. The reserves are held at top financial institutions in Europe, including Société Générale.
Schuman Financial is regulated by the French Prudential Supervision and Resolution Authority (ACPR), which operates under the French Central Bank. This gives the stablecoin strong regulatory backing under European law.
“EURØP on the XRPL combines the resilience of a global blockchain with euro-native liquidity and compliance at its core,” said Martin Bruncko, Founder and CEO of Schuman Financial. He said this initiative will give Europe new infrastructure for on-chain financial innovation.
Meanwhile, XRP Ledger has processed over 3.3 billion transactions and supports more than six million wallets. It is secured by a global network of over 200 validators. The integration of EURØP will bring a fully compliant euro settlement asset to this ecosystem.
Moveover, the stablecoin can be used for many purposes, including DeFi, tokenized real-world assets, and both business-to-business and consumer payments. It is designed to serve as a native option for the euro leg of on-chain activity.
Ripple’s Managing Director for UK & Europe, Cassie Craddock, said the launch shows how stablecoins can meet MiCA’s high standards. “We’re proud to work with companies like Schuman Financial to lay the foundation for enterprise-grade infrastructure,” she added.
The launch also comes at a time when global interest in regulated stablecoins is growing. In the United States, the Senate recently advanced the GENIUS Act, a bill focused on stablecoin oversight.
