PANews reported on November 26 that according to The Block, Schuman Financial launched the Euro stablecoin EURØP in compliance with MiCA regulations. The currency is pegged to the Euro at a 1:1 ratio and is backed by cash and equivalents. It aims to simplify the application of global digital payments, on-chain foreign exchange transactions and tokenized physical assets. Schuman Financial has been granted a stablecoin issuance license by the French regulator ACPR, and can issue electronic currency tokens pegged to any currency in accordance with MiCA regulations.
The launch comes on the heels of its $7.36 million seed round in September, led by RockawayX, with participation from Lightspeed Faction, Kraken Ventures, Nexo Ventures, Gnosis VC, Delta Blockchain Fund and Bankless Ventures. EURØP will be issued on Ethereum and Polygon chains first, with plans to integrate more blockchains and DeFi protocols in the future, while also being listed on major European crypto exchanges. The company will also build an ecosystem including SEPA integration, banking channels and custody partnerships with top global banks such as Societe Generale.
