“Euro Stablecoin Breaks Rules and Roars into the Blockchain Jungle! 🚀”

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Euro Stablecoin Breaks Rules and Roars into the Blockchain Jungle! 🚀

In an act of apparent technological rebellion, Schuman Financial’s EURØP today became the first euro-denominated stablecoin that not only gladly meets the European Union’s newest and most bureaucratically thrilling Markets in Crypto-Assets (MiCA) regime but also decided to live forever on the XRP Ledger (XRPL)—because, why not?

Launching amidst a flurry of baguettes and bureaucratic paperwork from Paris on 22 May, this milestone ties what little legal certainty there is—like a tightrope walker’s safety net—to a blockchain that has humorously settled more than 3.3 billion transactions during its 12-year existence, which is roughly enough to buy a small country or at least a decent sandwich. “EURØP on the XRPL combines the resilience of a global blockchain with euro-native liquidity and compliance at its very core,” said Martin Bruncko, Schuman Financial’s founder and CEO, possibly while sipping a very European espresso, “This will give Europe and euro-denominated financial markets an essential infrastructure for the next wave of financial innovation, which is happening on-chain—probably while everyone else is still figuring out what a blockchain is.”

XRP Ledger And Why MiCA Status Matters

MiCA’s stablecoin provisions—covering e-money tokens (EMT) like EURØP—kicked in on 30 June 2024, much to the delight of regulators everywhere. They require full 1:1 fiat backing (because your euro should never be less real than your Netflix subscription), daily redeemability (just in case you need to cash out and run away), bankruptcy-remote reserves (so they won’t disappear into the financial abyss), and approval by an EU regulator (because, of course). The French ACPR graciously licensed Schuman Financial as an EMT issuer, while KPMG, in a display of corporate camaraderie, audits its reserve assets—held at SociĂ©tĂ© GĂ©nĂ©rale and other top-tier banks—ensuring everything is on the up and up (or at least as up as a regulatory body can make it).

Only a handful of issuers have so far managed to clear the lofty MiCA standards: Circle’s USDC and EURC, SociĂ©tĂ© GĂ©nĂ©rale’s EURCV, and a dozen obscure projects. But EURØP is the first to bring that shiny regulatory pedigree to XRP Ledger, which—despite its native DEX, blazing fast finality, and low fees—has historically attracted IOU-based fiat tokens but lacked a proper MiCA-compliant euro coin. Now, it’s like finding a unicorn that also pays taxes.

Euro stablecoins occupy a tiny corner—about 0.15%—of the $232 billion global stablecoin universe, which, when converted (with a calculator, if you must), amounts to approximately $338 million as of end-April 2025. They’ve become a strategic priority for European banks and fintechs, especially with the advent of MiCA offering a passportable legal framework—meaning they can travel across borders like a very well-behaved financial nomad.

For payment firms and corporate treasurers, EURØP is basically a magical programmable settlement asset that zips around in three to five seconds, at fractions of a cent, while gladly carrying the weight of full EU regulatory compliance. Schuman Financial claims this token will underpin DeFi lending pools, automated foreign exchange corridors, and on-chain euro legs for tokenized real-world-asset trades—use cases that MiCA has been quietly nodding at from afar while hoping nobody notices. All of this, provided issuers ring the “significant” EMT bell with the European Banking Authority—because, clearly, nobody likes surprises.

Cassie Craddock, Ripple’s UK & Europe Managing Director, probably while sipping her own espresso, declared the launch a demonstration that ledgers can meet high standards and still allow for new on-chain payment adventures and RWA tokenization—obviously, because why not dream big?

At the time of writing, XRP was trading at $2.43, which is probably a good thing because nobody enjoys a stablecoin that’s not slightly unstable—just like life itself.

XRP price chart

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2025-05-23 01:43