eToro Joins EURØP Euro Stablecoin Consortium
eToro has joined ten European crypto firms in the Eurøpe Consortium, a group promoting the euro stablecoin EURØP, Finance Magnates reported on Monday. A stablecoin is a crypto token designed to hold a fixed value, here the euro.
Other members include Assetera, BLOX, Coinhouse, Coinmerce, DFNS, LCX, RockawayX, SwissBorg and XRPL Commons.
Each member keeps its own commercial, technical and regulatory decisions and supports EURØP “according to their role”, which could mean listing, integration or infrastructure. The consortium plans work on distribution, wallet and platform integrations, use cases and education.
Martin Bruncko, chief executive of Schuman Financial, the token’s issuer, said:
Regulation alone does not create a functioning market
Martin Bruncko, Schuman Financial
Schuman’s website describes EURØP as an e-money token, a regulated token redeemable one-for-one for the currency it tracks, pegged 1:1 to the euro. It says reserves are held in cash and cash equivalents, with quarterly attestations of parity by KPMG, meaning independent checks that reserves match tokens issued.
The issuer also says it operates under a French e-money token licence under the Markets in Crypto-Assets Regulation (MiCA), the European Union’s crypto rulebook, and is supervised by the Autorité de contrôle prudentiel et de résolution (ACPR), France’s financial supervisor. That is Schuman’s own description of its status.
For eToro, a euro token would sit alongside USDC, a dollar stablecoin the platform let users buy, sell and convert in September 2025. No eToro commitment to list EURØP has been announced.
EURØP launched in late 2024. Schuman said 15.5 million tokens were in circulation on 1 October, and it trades on Kraken, Bitvavo, Bit2Me, SwissBorg and Bitpanda.
A bank-backed rival is planned. Qivalis, backed by 37 lenders including BNP Paribas, ING and UniCredit, plans to issue a MiCA euro token in the second half of 2026, subject to authorisation from the Dutch central bank.
