Stablecoin startup Schuman Financial unveils MiCA-compliant Euro token

Stablecoin startup Schuman Financial, backed by Nexo and Lightspeed Faction, unveiled EURØP, a MiCA-compliant euro stablecoin.

A quiet shift in Europe‘s financial landscape is emerging as blockchain technology and regulatory clarity converge to reshape how euros move on-chain. Schuman Financial, a European blockchain startup, announced in a blog announcement Tuesday that it is launching a flagship product called EURØP, a MiCA-compliant euro-backed stablecoin designed to integrate traditional financial services into blockchain ecosystems.

EURØP, intended to serve as a bridge between web3 and traditional finance, is believed to offer services necessary to “bring European financial services on-chain and enable the next step in the evolution of global financial markets.”

Schuman says the stablecoin is “fully backed by cash and cash equivalents,” adding that it will initially operate on Ethereum (ETH) and Polygon (POL), with plans for expansion across additional blockchains and decentralized finance protocols “in the upcoming months.”

“With financial services shifting on-chain, the euro’s role in the digital asset space will inevitably grow—and grow quite dramatically. We can already see increased interest in stablecoin payments, and this use case is just starting to take off.”

Martin Bruncko, Schuman Financial founder

Listing on all European crypto exchanges

Schuman Financial has partnered with Société Générale for banking infrastructure and KPMG for auditing to reinforce transparency and compliance. The company stated plans to list EURØP on major European crypto exchanges “in the coming weeks,” though it did not name specific platforms.

As demand for euro-backed stablecoins grows amid rising European interest rates and regulatory challenges in the U.S., Schuman Financial aims to capture a growing share of the $180 billion stablecoin market. The company noted, “euro-backed stablecoins have been relatively underrepresented, presenting a massive growth opportunity.”

Founded in early 2023, Schuman Financial raised €7 million in a seed round led by RockawayX, with backing from other investors, including Lightspeed Faction, Kraken Ventures, and Nexo Ventures. The firm has also secured an Electronic Money Token license in France, issued under the Markets in Crypto-Assets Regulation.