Schuman Financial, founded by former Binance executives, is set to launch EURØP, a euro-pegged stablecoin, as Europe approaches the Markets in Crypto-Assets Regulation (MiCA) enforcement deadline. The firm recently completed a €7 million seed round, with notable investments from firms like RockawayX and Kraken Ventures. EURØP aims to facilitate digital payments and foreign exchange trading, fully backed by cash and cash equivalents, and will initially be available on Ethereum and Polygon. However, Schuman will restrict access from 107 countries deemed 'high-risk,' including Iran and North Korea. The stablecoin's compliance with MiCA stems from its subsidiary Salvus SAS acquiring a stablecoin issuer license in France, which enables it to operate across Europe and integrate with SEPA and major banks like Société Générale.

Source 🔗