Schuman Financial’s EURØP today became the first euro-denominated stablecoin that both satisfies the European Union’s new Markets in Crypto-Assets (MiCA) regime and lives natively on the XRP Ledger (XRPL).
MiCA’s stablecoin provisions—covering e-money tokens (EMT) such as EURØP—took effect on 30 June 2024. They require full 1:1 fiat backing, daily redeemability, bankruptcy-remote reserves and authorisation by an EU regulator. The French ACPR has licensed Schuman Financial as an EMT issuer, while KPMG audits its reserve assets held at Société Générale and other top-tier banks.
Euro stablecoins represent barely 0.15 % of the $232 billion global stablecoin float—roughly $338 million as of end-April 2025—yet they have become a strategic priority for European banks and fintechs now that MiCA offers a passportable legal framework.
Cassie Craddock, Ripple’s Managing Director for UK & Europe, framed the launch as validation of ledger’s enterprise strategy: “The launch of EURØP on the XRP Ledger demonstrates how stablecoins can meet the high standards set by MiCA while unlocking new possibilities for on-chain payments and RWA tokenization.
At press time, XRP traded at $2.43.
