New Euro-Pegged Stablecoin Set to Launch Amid Europe’s Regulatory Shift

Schuman Financial, a cryptocurrency startup founded by former Binance executives Martin Bruncko and Eduardo Morrison, has officially unveiled a new euro-backed stablecoin, EURØP, as it emerges from stealth mode.

The company, which recently secured €7 million ($7.36 million) in a seed funding round, is set to introduce EURØP to the market in the coming weeks. This move comes just as Europe prepares to implement the Markets in Crypto-Assets Regulation (MiCA) by the end of the year.

EURØP will be a fully-backed, euro-pegged stablecoin aimed at global users, offering use cases such as digital payments, on-chain foreign exchange trading, and tokenized real-world assets. Initially launching on Ethereum and Polygon, the stablecoin will be integrated with major European crypto exchanges and will expand into decentralized finance (DeFi) platforms in the months ahead.

While targeting a global market, EURØP will not be available in certain high-risk regions. Schuman Financial has restricted its services in 107 countries, including nations such as Iran, North Korea, Venezuela, and Russia, based on assessments from international bodies like the Financial Action Task Force and the European Union.

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Schuman Financial’s subsidiary, Salvus SAS, has secured a license from the French Prudential Supervision and Resolution Authority, allowing the company to issue e-money tokens in compliance with MiCA. This licensing marks a significant step in the company’s efforts to establish a regulated stablecoin ecosystem, including partnerships with global banks like Société Générale and integration with SEPA payments.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.