eToro joins euro stablecoin group, but EURØP listing is not promised

Online broker eToro has joined the Eurøpe Consortium, a group of European crypto companies set up to promote EURØP, a stablecoin pegged to the euro and issued by Schuman Financial. The membership was reported on Monday and adds the trading platform to a cohort that already includes Assetera, BLOX, Coinhouse, Coinmerce, DFNS, LCX, RockawayX, SwissBorg and XRPL Commons.

Under the consortium's structure, each member retains its own commercial, technical and regulatory decision-making, and supports EURØP "according to their role". That could mean anything from listing the token to integrating it into infrastructure. The group's stated workstreams cover distribution, wallet and platform integrations, real-world use cases and education.

Martin Bruncko, chief executive of issuer Schuman Financial, framed the effort as a market-building exercise rather than a regulatory one, saying: "Regulation alone does not create a functioning market." Schuman describes EURØP as an e-money token that is redeemable one-for-one for the euro and pegged 1:1 to the single currency. According to the issuer, reserves are held in cash and cash equivalents, with quarterly attestations of parity carried out by KPMG to verify that tokens issued are matched by backing assets. Schuman also says it operates under a French e-money token licence granted under the EU's Markets in Crypto-Assets Regulation and is supervised by the Autorité de contrôle prudentiel et de résolution, France's financial supervisor.

No listing commitment yet

For eToro, a euro-denominated token would sit alongside USDC, the dollar stablecoin it began letting users buy, sell and convert in September 2025. The broker has not announced any commitment to list EURØP.

EURØP launched in late 2024. Schuman reported 15.5 million tokens in circulation as of 1 October, and the token trades on Kraken, Bitvavo, Bit2Me, SwissBorg and Bitpanda. Competition in the regulated euro-token segment is building: Qivalis, a vehicle backed by 37 lenders including BNP Paribas, ING and UniCredit, plans to issue its own MiCA-compliant euro token in the second half of 2026, subject to authorisation from the Dutch central bank.