"MiCA Regulatory Compliance and the Debut of 'EURØP': First Euro Stablecoin on XRP Ledger"

**Schuman Financial Unveils MiCA-Compliant Euro Stablecoin on XRP Ledger** Schuman Financial, an innovative fintech firm, has launched EURØP, the first euro-backed stablecoin on the XRP Ledger (XRPL) that complies with the European Union’s Markets in Crypto-Assets (MiCA) regulations. Unveiled on May 22 at a Paris event, this development was covered by Bitcoinist on May 23. This trailblazing stablecoin ensures the legal compliance required by MiCA and operates on a blockchain network boasting over 3.3 billion transactions over the past 12 years. Martin Bruncko, Schuman Financial's founder and CEO, stated, "EURØP combines the stability of a global blockchain with the liquidity and regulatory compliance of euro-based assets, providing essential infrastructure for next-generation financial innovation in Europe and euro-denominated financial markets." **Significance of XRP Ledger and MiCA Compliance** MiCA’s stablecoin guidelines, effective June 30, 2024, classify these assets as electronic money tokens (EMTs). Issuers must meet rigorous criteria, including 1:1 fiat currency backing, next-day redemptions, bankruptcy-remote reserves, and EU regulatory approval. Schuman Financial has received EMT issuer authorization from France’s ACPR (Autorité de Contrôle Prudentiel et de Résolution). KPMG audits the reserves for EURØP, managed by Société Générale and other Tier 1 banks. Few issuers meet MiCA standards, including Circle’s USDC and EURC, Société Générale’s EURCV, and select niche projects. EURØP is notable as the first MiCA-compliant euro stablecoin on the XRP Ledger. Despite XRPL’s long-standing attraction for IOU-based fiat tokens due to its DEX, fast transactions, and low fees, a MiCA-compliant euro stablecoin was absent until now. Euro-backed stablecoins represented just 0.15% of the global stablecoin market, valued at approximately $338 million as of late April 2025. The forthcoming MiCA regulations are expected to boost their prevalence as European banks and fintech firms adhere to these pioneering regulatory standards. **Expanding On-Chain Financial Use Cases** Schuman Financial pointed out that EURØP could enhance various decentralized finance (DeFi) uses, including lending pools, automated forex transactions, and tokenized real-world asset (RWA) trading. These applications are closely watched by European authorities, with MiCA requiring issuers applying for "significant" EMT classification to engage with the European Banking Authority (EBA). Cassie Craddock, Managing Director for Ripple’s UK and Europe division, lauded the EURØP launch, highlighting it as proof of XRP Ledger's enterprise strategy's success. “EURØP shows how stablecoins can conform to MiCA’s stringent standards while unlocking potential for on-chain payments and RWA tokenization,” Craddock remarked. The launch of EURØP marks a transformative phase for Europe’s digital asset ecosystem, fostering MiCA-compliant innovations that blend regulatory clarity with technological advancement.