EURØP (Schuman Financial)
EURØP is a euro stablecoin issued by Schuman Financial, a French e-money institution supervised by the ACPR. Each token is backed one to one by euros held at European banks, and KPMG audits the reserves every quarter. It runs on Ethereum, Solana, Avalanche, the XRP Ledger, Polygon and Plasma. Business clients mint and redeem directly. Retail holders redeem through a request form.
Regulated euro stablecoin, fully reserved and audited, live on six chains with growing institutional distribution. Sits in the euro-wrapper class: honest peg, no independence from fiat, under two years old.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x3.0
Fully reserved one to one in euro cash and equivalents at EU banks, quarterly KPMG audit, plus a stated 2% extra reserve fund. Rule-bound and transparent, but the issuer alone decides supply and the rules.
Spending Power Stability2x3.0
Tracks the euro at par (DefiLlama 2026-08-26: 23.3M in circulation, price at peg). Stable against its own target, but the euro itself loses value to inflation.
Fiat Independence & Interoperability2x1.0
A euro wrapper on generic multichain rails. No own interoperability standard and no path away from fiat.
Traction2x3.0
23.3M EURØP live on six chains, exchange listings, XRPL native integration, institutional distribution deals in 2026 (UDA, DFNS). Small next to USD peers but real and growing.
Sovereignty2.0
Issuer can freeze and blacklist under MiCA obligations. Minting is limited to onboarded business clients. Retail holds and redeems through the issuer.
Governance2.0
Single regulated company under ACPR supervision. Transparent about reserves and audits, no holder voice in decisions.
Resilience2.0
Live since November 2024, under two years, no stress event on record yet. Bankruptcy protections follow the EMI regime, weaker than a credit institution.
Inclusivity2.0
Open to hold and transfer on public chains, but issuance is business-only and redemption for retail runs through KYC forms. Mainly a settlement rail for institutions.