Ripple Integrates First EU-Compliant Stablecoin on XRPL: Details

Ripple Brings MiCA-Compliant Euro Stablecoin EURØP to XRP Ledger

Blockchain leader Ripple has announced the addition of the first euro-backed stablecoin, EURØP, to the XRP Ledger. Developed and launched by Schuman Financial, EURØP is a MiCA-compliant asset that marks a significant stride towards embracing regulatory-compliant stablecoins and facilitating payments, tokenized real-world assets (RWAs), and on-chain finance within the European Union.

The stablecoin's debut took place on May 22, with EURØP being touted as a redeemable, euro-backed asset. Schuman Financial holds a license from the ACPR (Banque de France), the regulatory authority of the European Central Bank, and the reserves backing EURØP undergo regular audits by KPMG, securely held by top European banks, including Societe Generale.

According to Schuman Financial's CEO and Founder, Martin Bruncko, the integration of EURØP with the XRP Ledger provides a resilient global blockchain infrastructure backed by euro-native liquidity and compliance, positioning the network as a suitable foundation for the next wave of financial innovations in Europe, which Bruncko believes will occur on-chain.

The XRP Ledger, with over 3.3 billion transactions processed and support for more than six million wallets backed by over 200 validators, now hosts the first euro-native settlement asset, making it an ideal platform for the circulation of stablecoins, as highlighted in Ripple's press release.

Additionally, the recent progress made on the GENIUS Act, a major bill aimed at establishing clear regulatory rules for the stablecoin sector, has been celebrated as a historic victory for the cryptocurrency industry, paving the way for further regulatory clarity and crypto-friendly policies.

• EURØP is the first MiCA-compliant euro stablecoin on the XRP Ledger.
• The stablecoin is fully backed by euro reserves and designed for real-time settlements, DeFi, and tokenized RWAs.
• The integration with the XRP Ledger provides a resilient global blockchain infrastructure for financial innovations in Europe.
• The progress on the GENIUS Act is a significant step towards regulatory clarity and a crypto-friendly environment.