Schuman Financial Is Bringing
European Finance On-Chain
Driving Europe’s transition to on-chain financial services.
When our team first met in early 2023, we were struck by the non-existent adoption of euro stablecoins in the digital assets market. How is it possible that the world’s 2nd largest and most used currency failed to capture even 1% of stablecoin supply? The answer is not so straightforward. The lack of regulatory clarity, uncertainty related to digital assets and Europe’s slower adoption of new technologies compared to the US or Asia all played a role. With Markets in Crypto-Assets Regulation (MiCAR), the European Union brought the first-of-its-kind regulatory framework that protects both investors and institutions and clearly defines the operational and legal framework for cryptocurrencies. We felt now is the time to revolutionise European finance and bring it on-chain. So we put together a team.
Introducing Schuman Financial
After months of working in stealth mode, we are excited to announce the launch of Schuman
Financial. Schuman Financial is an independent European company founded by a team with decades of experience from the cutting edge of crypto, traditional finance and European policymaking. Schuman Financial is developing technologies, infrastructure, and products necessary to bring European financial services on-chain and enable the next step in the evolution of global financial markets.
Today, we’re launching our first core product. EURØP is a euro-denominated stablecoin issued by our fully owned, French-regulated company with an Electronic Money Token (EMT) licence that allows us to issue MiCA-compliant stablecoins pegged to fiat currencies. EURØP is the first step in enabling the on-chain transition of traditional finance (TradFi) and will serve as a bridge between Web3 and TradFi.
EURØP is fully backed by cash and cash equivalents, ensuring stability and trust for global euro users. With use cases ranging from digital payments and on-chain FX trading to tokenised real-world assets, EURØP is your go-to solution for instantaneous and affordable transactions.
Stablecoins act as a bridge between TradFi and the digital asset world. They offer the benefits of blockchain technology, such as faster settlement times and reduced transaction costs, while maintaining the stability associated with fiat currencies.A no-brainer for every institution that wants to improve its client’s experience, save on operating costs, and become more efficient.
Backed by Web3’s Leading Investors
In September 2024, we closed an oversubscribed €7 million seed round led by RockawayX and supported by Lightspeed Faction, Kraken Ventures, Nexo Ventures, Gnosis VC, Delta Blockchain Fund, Bankless Ventures, and several angel investors.
This allowed us to start building Schuman Financial and acquire Salvus SAS. Salvus SAS, which trades under the name Schuman Financial, is the first European company to obtain an EMT licence in France. The official e-money token licence was granted under the EU’s Markets in Crypto-Assets (MiCA) regulation by the French Autorité de Contrôle Prudentiel et de Résolution (ACPR), the regulatory body under the French central bank.
Building a Robust Ecosystem Around EURØP
We are committed to ensuring EURØP’s widespread adoption and utility. Our partnerships include SEPA integrations, banking channels, and custody solutions with Tier-1 global banks such as Société Générale. We are also audited by KPMG, underscoring our commitment to transparency and compliance.
EURØP will be listed on all major European centralised crypto exchanges in the coming weeks. We are integrating with leading global digital asset custodians, market makers, and other service providers. Initially available on Ethereum and Polygon, we plan to expand to additional chains and DeFi protocols in the upcoming months. The goal is simple: to build the most comprehensive euro-denominated ecosystem in the digital assets market.
Get Your Business
On-Chain With EURØP
Become a qualified business client and convert euro to EURØP and back via our minting platform. Take your business on-chain with EURØP and experience near-instant and cost-efficient transfers.
Why Now Is the Perfect Time for Schuman Financial
The introduction of the MiCA regulation in 2023 brings a comprehensive and much-needed framework for digital assets in Europe, eliminating much of the uncertainty that previously hindered innovation and adoption. And while Europeans are already a global leader in on-chain transactions, European institutions and businesses aren’t as much on the wave of digital assets. The MiCAR framework is destined to change this and accelerate institutional adoption in Europe. As TradFi services transition on-chain, the euro’s role in the digital asset space is poised for significant growth.
“Traditional financial services are undergoing a once-in-a-generation transition as they move on-chain,” says Martin Bruncko, our Founder and CEO. “Europe is already the leading market in digital assets concerning transaction volumes and regulatory clarity. With financial services shifting on-chain, the euro’s role in the digital asset space will inevitably grow—and grow quite dramatically. We can already see increased interest in stablecoin payments, and this use case is just starting to take off. Together with our investors and partners, we’re here to lead and accelerate this transition.”
As of October 2024, the total market capitalization of stablecoins exceeds $180 billion, with USD-backed stablecoins like Tether (USDT) and USD Coin (USDC) dominating the market. However, euro-backed stablecoins have been relatively underrepresented, presenting a massive growth opportunity.
Over the past few years, the European Central Bank has been raising interest rates, leading to non-zero EUR interest rates. This shift makes euro-denominated assets more attractive to investors seeking yields, increasing the demand for euro-backed stablecoins.
Due to regulatory scrutiny in the United States, non-US traders seek alternative stablecoins and FX exposure. Euro-denominated stablecoins like EURØP offer a viable solution, providing stability and diversification away from USD-backed assets. For European financial institutions, euro stablecoins provide a familiar and regulated asset that aligns with their existing currency operations. This facilitates smoother integration of blockchain technology into their services, driving innovation while maintaining compliance and stability.
Viktor Fischer, Founder & CEO of RockawayX, states, “We see major tailwinds for the adoption of EUR-denominated stablecoins, including regulatory clarity, non-zero EUR interest rates, demand by non-US digital asset traders for alternative FX exposure—and all against a backdrop of the DeFi market’s expansion as new assets and capital come on-chain. Schuman’s specialised focus on the European market, enviable regulatory position, and the team’s expertise across traditional and digital asset markets give us high conviction that this one’s a winner.”
Looking Ahead
Our launch comes at a pivotal moment. With MiCA’s regulatory clarity and growing demand for euro stablecoin solutions, we are perfectly positioned to lead the euro-denominated stablecoin market. As we embark on this journey, we invite you to join us in shaping the future of finance—bringing stability, innovation, and trust to the digital asset landscape.
Follow us on X and LinkedIn for more updates as we continue to build and expand our offerings.