Schuman Financial Launches EURØP Stablecoin To Transform Digital Payments
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Schuman Financial has launched EURØP, a new euro-backed stablecoin. The company stated that the stablecoin is designed to change how customers complete global digital payments.
It helps with on-chain foreign exchange trading and improves the tokenization of real-world assets. EURØP is fully backed by cash and cash equivalents, with a 1:1 peg to the euro, ensuring stability.
Schuman Financial said EURØP aims to increase the use of stablecoins in Europe. The company also shared that it raised $7.36 million in September to support the launch.
The company got support from RockawayX and firms like Kraken Ventures, Lightspeed Faction, and Nexo Ventures. Schuman Financial said the funds will enable it to develop and launch EURØP.
EURØP Stablecoin Aims To Expand The Euro’s Role In Digital Assets
The Chief Executive Officer of Schuman Financial, Martin Bruncko, shared that around one-third of global financial services are in euros. With more financial services moving to blockchain, the euro will become more important in the digital world. There is already a growing demand for euro-backed stablecoin payments, and Schuman Financial believes this is just the beginning.
According to the update, EURØP will first be available on the Ethereum and Polygon blockchains. Schuman Financial wants to add more blockchains and work with DeFi protocols soon. The company said EURØP will soon be available for users on popular European cryptocurrency exchanges.
The stablecoin will be supported by top digital asset custodians, liquidity providers, and service providers. These partnerships aim to help the stablecoin work well and allow easy transactions.
Schuman Financial became the first European company to get a license to issue stablecoins in France. The license was given by the French Autorité de Contrôle Prudentiel et de Résolution, allowing the company to issue e-money tokens backed by any currency across Europe.
This step is part of Schuman Financial’s plan to offer safe and trusted financial services in Europe. The company wants to build a strong and reliable blockchain system for digital financial services in the region.
Schuman Financial Sets A New Standard For Digital Assets In Europe
Schuman Financial is building an ecosystem around EURØP that includes SEPA integrations, banking channels, and partnerships with major global banks, including Société Générale. The company aims to ensure digital asset traders and businesses throughout Europe can easily use the EURØP stablecoin.
Viktor Fischer, Chief Executive Officer of RockawayX, explained that more people are using euro-backed stablecoins. He said that things like clear rules, higher interest rates in Europe, and more digital asset traders from outside the United States are helping EURØP grow.
Schuman Financial was established by former leaders from Binance Europe and other experts in traditional finance. The company wants to build a strong blockchain system that follows European rules. This will help move euro-based financial services onto the blockchain and support new digital asset solutions.
