Blockchain behemoth Ripple has published a press release about adding the first EUR-backed stablecoin to the XRP Ledger — MiCA-compliant EURØP. The asset was developed and launched by Schuman Financial.
Per Ripple, this is a major step toward adopting compliant stablecoins and launching payments, tokenized RWAs and on-chain finance in the European Union.
EURØP goes live on XRP Ledger
The product’s launch took place today, May 22. EURØP is touted as a redeemable stablecoin fully backed by EUR. The issuer has a license from the ACPR (Banque de France) — a regulatory authority of the European Central Bank. The reserves backing EURØP undergo a regular audit by KPMG, securely held by top banks in Europe, including the Societe Generale banking giant.
🇪🇺 @Schuman_io Financial’s EURØP becomes the first MiCA-compliant euro stablecoin on the XRP Ledger. https://t.co/VUALNB9QSY
A key step toward compliant stablecoin adoption, enabling payments, tokenized RWAs, and onchain finance in Europe.
— RippleX (@RippleXDev) May 22, 2025
At the stablecoin’s core lies the resilience of a global blockchain (XRPL) backed by euro-native liquidity, and compliance, according to Schuman Financial’s CEO and Founder Martin Bruncko. He believes that XRP Ledger will serve as a suitable infrastructure for the next wave of innovations in the financial sphere in Europe. The latter will take place on-chain, he believes.
Thanks to this integration, the XRPL now has the first euro-native settlement asset. In roughly the past 10 years, more than 3.3 billion transactions have passed through XRP Ledger. It also provides support to more than six million wallets on a network backed by over 200 validators. This makes the XRPL a perfect network for the circulation of stablecoins, Ripple’s press release stresses.
🚨 EURØP is now live on the XRP Ledger.
We’re proud to bring the first MiCA-compliant euro stablecoin to one of the world’s most trusted blockchains.Here’s what this means for the future of the euro economy on-chain.
A 🧵 pic.twitter.com/7tVLwGg93u
— Schuman Financial (@Schuman_io) May 22, 2025
According to a recently published X thread by Schuman Financial’s account, EURØP is fully backed with Euro reserves on a 1:1 basis. It was designed for real-time euro settlements and on-chain b2b and b2c payments, for use in the spheres of DeFi and tokenized real-world assets (RWAs).
Stablecoin bill passes major roadblock
As reported by U.Today, earlier this week, the major bill that aims to ensure clear regulatory rules for the stablecoin sector, known as the GENIUS Act, passed its first big procedural hurdle, with 16 Democrats joining Republicans on the vote.
It has now gained enough voices to invoke cloture, and the cryptocurrency space has celebrated this event as a historic victory after years when this, even potential regulatory clarity, was lacking. There are still many further steps to be taken to bring clear and crypto-friendly rules to the industry, but the main step has been taken already.
