Schuman Financial has introduced EURØP to the XRP Ledger, enhancing the application of regulated stablecoins in Europe. This integration increases on-chain functionality for activities such as payments and the tokenization of real-world assets. EURØP is Schuman Financial’s inaugural euro stablecoin that complies with MiCA regulations and has launched on Ripple Labs’ XRP Ledger (XRPL). This integration marks a significant advancement in the introduction of euro-denominated stablecoins that comply with regulations in Europe. EURØP enhances on-chain finance within the continent. The introduction of EURØP on the XRPL, known for being one of the quickest and safest blockchains globally, aims to facilitate on-chain finance in Europe and open up new opportunities for on-chain applications such as payments and tokenizing real-world assets. According to a blog post, EURØP is a stablecoin that is completely backed by euros and can be redeemed. KPMG conducts regular audits of the stablecoin reserves, which are held securely at top financial institutions in Europe, such as Société Générale. Martin Bruncko, who is the Founder and CEO of Schuman Financial, mentioned that the introduction of EURØP on the XRPL leverages the robustness of a worldwide blockchain. He mentioned that it will provide euro-denominated financial markets with a fundamental framework for the upcoming phase of financial innovation. In essence, EURØP brings a euro-based settlement asset to the XRPL. The Layer-1 blockchain continues to be a leading player in the cryptocurrency market. In the last decade, the XRPL has facilitated more than six million active wallets and handled upwards of 3.3 billion transactions. Furthermore, with over 200 validators, the XRPL presents a suitable platform for stablecoins such as EURØP. The stablecoin is expected to be beneficial for Decentralized Finance (DeFi) applications, tokenized Real-World Assets (RWAs), as well as for Business-to-Business (B2B) and Business-to-Consumer (B2C) payment transactions. The introduction of EURØP on the XRPL showcases that stablecoins can adhere to the stringent requirements established by the Markets in Crypto-Assets Regulation (MiCA).
