Schuman Financial Launches EURØP, a Euro-Backed Stablecoin

Schuman Financial, a blockchain startup founded by former Binance executives, has unveiled EURØP, a euro-backed stablecoin designed to bridge traditional finance with digital asset ecosystems. The launch marks a significant milestone in European cryptocurrency regulation, coinciding with the upcoming Markets in Crypto-Assets Regulation (MiCA) enforcement deadline.

The new stablecoin is meticulously crafted to address the current gaps in euro-denominated digital assets. Pegged 1:1 to the euro and fully backed by cash and cash equivalents, EURØP aims to revolutionize digital payments, on-chain foreign exchange trading, and tokenized asset markets.

Founded by Martin Bruncko and a team of blockchain and financial experts, Schuman Financial secured a €7 million seed round in September, backed by prominent investors including RockawayX, Kraken Ventures, and Nexo Ventures. The company has already obtained a crucial Electronic Money Token license from the French Prudential Supervision and Resolution Authority, positioning itself at the forefront of European crypto regulation.

Initially available on Ethereum and Polygon blockchains, EURØP plans to expand to additional networks and decentralized finance protocols in the coming months. The company has strategic partnerships with Tier-1 global banks like Société Générale and has been audited by KPMG to ensure transparency and compliance.

However, the stablecoin comes with notable restrictions. Schuman Financial has identified 107 countries as “high-risk,” effectively limiting access in regions including Iran, North Korea, Venezuela, and Russia. The company’s careful approach reflects the complex geopolitical landscape of digital finance.

“As financial services shift on-chain, the euro’s role in the digital asset space will inevitably grow,” said CEO Martin Bruncko. “We’re just at the beginning of understanding the potential of stablecoin payments.”

While the exact launch date remains pending, Schuman Financial expects EURØP to go live in the coming weeks, with plans to list on major European cryptocurrency exchanges. As the digital finance landscape continues to evolve, EURØP represents a bold step towards integrating traditional European financial services with blockchain technology.