Building a Borderless Euro Economy

One year ago, when we started putting together the vision for Schuman Financial, we collectively realised the exciting opportunity ahead of us. We have the chance to remake the way European money moves, and it all starts with a solid euro stablecoin.

The European Union has always stood for the free movement of goods, services, people, and capital, but cross-border transfers and lack of interoperability feel like relics of another century. Of course, there are more challenges, but I won’t bother you with that. Seeing these inefficiencies up close sparked a conviction. We have to innovate the financial markets, and a euro-backed stablecoin could wipe away those barriers and deliver real economic benefits to businesses and consumers.

In global markets, the euro consistently ranks near the top. SWIFT reports that it accounts for roughly 1/4 of payments worldwide (2024), second only to the US dollar. Combining that monetary influence with blockchain’s near-instant settlement gives you a potent recipe for more efficient finance. But it’s not just about speed.

A euro stablecoin could address concerns about cost and transparency in cross-border remittances. The Bank for International Settlements (BIS) estimates that transaction costs cost businesses and individuals over $120 billion a year. That figure represents more than lost capital; it’s an unfulfilled opportunity for entire economies.

When I share stories about stablecoins with bank executives and TradFi professionals, many picture volatile and speculative cryptocurrencies. This misperception fades once they see how stablecoins can plug directly into existing compliance frameworks while holding a steady, euro-based value. Markets in Crypto-Assets (MiCA) regulation offers European businesses and consumers the clarity they’ve been missing. It defines how assets should be issued, managed, and traded, removing risky grey areas for banks and institutions that value regulatory certainty.

Picture a major retail bank where waiting two or three business days for wire transfers to clear is normal. Introducing a euro-backed stablecoin into its operations could slash settlement times to seconds, saving an entire treasury department countless hours in manual reconciliation. Meanwhile, both banks and clients might save a substantial chunk of money on operational costs and fees. Businesses could reinvest this money into better products, more jobs, or improving their services. At the same time, clients can decide what to do with the money instead of spending it on the inefficiencies of current banking.

A stablecoin can be much more than just a digital analogue to the euro. If done right, it can be at the core of an entire on-chain ecosystem in which users never have to convert back to fiat to carry on with the necessities of their daily lives. A blockchain-native euro allows everyday financial activities to coexist in one interconnected and transparent network:

• A car manufacturer in Germany instantly settles with a chassis supplier in South Korea with no delays or costly fees.
• Remote employees worldwide can be paid in one standardised and stable currency, which they can immediately convert into their local currency through a local off-ramp or use directly to pay for their daily expenses.
• Invoices settle in near real-time, reducing operational risks and bottlenecks that slow growth.

I could list dozens of examples like this, where a dominant and widely adopted euro stablecoin could save thousands of working hours, countless headaches, and billions in funds. That’s the sort of real-world impact these digital tools can deliver. And quite frankly, it’s a no-brainer, as this would be a win-win solution for all market participants.