🔥 EURØP Stablecoin by Schuman Financial Joins the Market
posted 3 hr ago
European-based Schuman Financial has launched its first euro stablecoin, EURØP, built to comply with MiCA regulations. With cash reserves secured in local banks, EURØP aims to strengthen the connection between traditional finance and Web3 technologies.
The company has secured partnerships to integrate EURØP into SEPA payment networks and has collaborated with key players like Société Générale. As part of its commitment to compliance, Schuman Financial is undergoing audits to meet regulatory standards.
Stablecoins is a no-brainer for every institution that wants to improve its client’s experience, save on operating costs, and become more efficient,Schuman Financial stated in its press release.
Initially, EURØP will run on Ethereum and Polygon, with plans to extend support to other blockchain networks. The stablecoin is also set to be listed on major European centralized exchanges, facilitated by partnerships with market makers and service providers.
Schuman Financial is optimistic that Europe’s clear regulatory framework, rising demand for euro-backed stablecoins, and positive interest rates will drive EURØP’s rapid adoption, especially among non-American traders. CEO Martin Brunko highlighted that the current shift toward technological innovation in the financial system creates a prime opportunity to introduce tailored solutions.
In autumn 2024, the company raised €7 million from key venture investors such as Kraken Ventures, Nexo Ventures, and Gnosis VC. Later, Schuman Financial acquired the French firm Salvus SAS, which holds an EMT license to issue electronic money—a pivotal move to advance its strategic objectives.
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