XRP Ledger Breaks Ground With Its First MiCA-Regulated Euro Stablecoin

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).

Launched from Paris on 22 May, the milestone ties MiCA-grade legal certainty to a blockchain that has already settled more than 3.3 billion transactions during its 12-year lifespan. “EURØP on the XRPL combines the resilience of a global blockchain with euro-native liquidity and compliance at its core. This will give Europe and euro-denominated financial markets an integral infrastructure for the next wave of financial innovation, which is happening on-chain,” said Martin Bruncko, Schuman Financial’s founder and CEO, in the announcement.

XRP Ledger And Why MiCA Status Matters

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.

Only a handful of issuers have so far cleared MiCA’s bar: Circle’s USDC and EURC, Société Générale’s EURCV, and a dozen niche projects. But EURØP is the first to bring that regulatory pedigree to XRPL, whose native DEX, fast finality and low fees historically attracted IOU-based fiat tokens yet lacked a MiCA-compliant euro coin.

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.

For payment firms and corporate treasurers, EURØP offers a programmable settlement asset that can move in three to five seconds at fractions of a cent while retaining full EU regulatory coverage. Schuman Financial says the token will underpin DeFi lending pools, automated foreign-exchange corridors, and on-chain euro legs for tokenized real-world-asset (RWA) trades—use cases that MiCA expressly contemplates once issuers file a “significant” EMT designation with the European Banking Authority.

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.