Schuman Financial Launches MiCA-Compliant EURØP Stablecoin

by

As a seasoned analyst with extensive experience in the crypto market, I find the recent developments in the European stablecoin landscape quite intriguing. Schuman Financial’s EURØP and Quantoz’s USDQ/EURQ stablecoins are poised to shake up the euro-backed stablecoin sector, which has been dominated by giants like Circle’s EURC and Société Générale’s EURCV.

Schuman Financial, a fintech firm based in France and regulated by authorities, unveiled the debut of their MiCA-approved euro-tied stablecoin named EURØP. This digital token is linked to the euro and aims to bring a groundbreaking change in the crypto sector across Europe.

As stated in the recent announcement, the new stablecoin, EURØP, is designed with a 1:1 equivalence to the Euro. This innovative currency is intended to streamline global transactions, facilitate effortless Foreign Exchange (FX) trading, and foster the growth of the tokenized Real-World Assets (RWA) market. With the European Union’s Markets in Crypto-Assets (MiCA) regulations providing a solid regulatory framework for stablecoins, EURØP seeks to bridge the gap in the euro-centric digital payment system.

EURØP Stablecoin to Launch on Ethereum and Polygon

Schuman Financial is aiming to become a significant figure in the crypto industry post-MiCA, particularly focusing on the development of its stablecoin, EURØP. This digital currency will initially be introduced on both Ethereum and Polygon networks. By utilizing the strong infrastructures of these blockchains, EURØP aims to deliver fast transactions, minimal fees, and seamless integration with decentralized applications.

Additionally, Schuman Financial has unveiled intentions to broaden its presence across various blockchain platforms and collaborate with Decentralized Finance (DeFi) systems. This move is expected to enhance the functionality of EURØP within liquidity pools, lending markets, and decentralized trading platforms. Furthermore, EURØP will be transformed into a digital token representing real-world assets such as real estate, bonds, and commodities.

Following on from the achievement of a $7.36 million seed funding round in September, this recent development occurs. Support from RockawayX lends substantial credibility to Schuman Financial’s endeavors to establish EURØP as a leading stablecoin.

Notable supporters also include Kraken Ventures, Gnosis Venture Capital, Nexo Ventures, Lightspeed Faction, Bankless Ventures, and the Delta Cryptocurrency Fund.

As I embark on exciting new growth and collaboration ventures, my role within EURØP will undeniably position us as a pivotal force in molding the upcoming landscape for digital assets denominated in Euros.

Quantoz Launches MiCA-Complaint USDQ and EURQ Stablecoins

Beginning next month, a Dutch fintech company called Quantoz Payments introduces two new stablecoins – USDQ and EURQ – as the European MiCA regulation becomes active. These stablecoins, backed by traditional currencies, are designed to operate on the Ethereum blockchain and adhere to the requirements of the MiCA regulations.

Quantoz assures that each token adheres strictly to MiCA’s stringent guidelines. By November 21, 2024, these two secure cryptocurrencies have been listed for trading on well-known platforms such as Bitfinex and Kraken. To meet MiCA requirements, Quantoz will retain a 2% share of the token on its books. This reserve guarantees liquidity and stability within the digital asset market.

Keep in mind that Circle’s EURC, currently valued at $1.05, holds a 67% market share in the euro-backed stablecoin sector. However, Société Générale’s EURCV is currently leading. Quantox aims to contest this dominance and establish a substantial market presence.

Now, FDUSD – a stablecoin developed by First Digital Labs – has gone live on the Sui blockchain, and it currently ranks as the second most popular native stablecoin after USDC, which was deployed earlier in October. Here are some key details about FDUSD:

By integrating with FDUSD, users can now utilize a universally compatible stablecoin that empowers Decentralized Finance (DeFi) solutions on numerous other platforms beyond its own.

Read More

2024-11-26 15:39