eToro has joined 10 European crypto firms in a push to get more people using a euro-pegged stablecoin, the members said today (Monday). Their Eurøpe Consortium will start with EURØP, a token issued in France by Schuman Financial.
Dollar-pegged tokens account for about 99% of global stablecoin market value, according to the European Central Bank's (ECB) Financial Stability Review from November 2025.
EURØP had 15.5 million tokens in circulation on October 1, Schuman said. Circle's EURC stood at 403.1 million when Revolut started distributing a Stripe-issued euro token in August with 374 tokens issued.
London's trading industry is coming home!
The other members are Assetera, BLOX, Coinhouse, Coinmerce, DFNS, LCX, RockawayX, SwissBorg and XRPL Commons. Most run crypto exchanges, wallet infrastructure or blockchain ecosystem programs.
Listing Decisions Stay With Each Member
For eToro, the Nasdaq-listed broker, a euro token would sit next to the dollar coin it already offers. The company let users buy, sell and convert USDC in September 2025, shortly after its US listing.
Ouriel Ohayon, head of crypto at eToro, said the company wants to help "make the euro a first-class currency on-chain."
The consortium plans to work on distribution, wallet and platform integrations, retail and institutional use cases, and education.
Each member keeps its own commercial, technical and regulatory decisions. Members will support EURØP "according to their role," which can mean a listing, an integration or infrastructure work, the announcement said.
Banks and Revolut Back Rival Tokens
Schuman, founded by former Binance executives Martin Bruncko and Eduardo Morrison, launched EURØP in late 2024 after a EUR 7 million seed round led by RockawayX. The token now runs on six blockchains and trades on Kraken, Bitvavo, Bit2Me, SwissBorg and Bitpanda, the company said.
"Regulation alone does not create a functioning market," Bruncko, the chief executive, said.
Banks are building their own route. Qivalis, a venture backed by 37 lenders including BNP Paribas, ING and UniCredit, plans to issue a euro token under the EU's Markets in Crypto-Assets Regulation (MiCA) in the second half of 2026, subject to authorization by the Dutch central bank.
Schuman is authorized as an electronic money institution by France's Prudential Supervision and Resolution Authority (ACPR). It holds EURØP reserves at Société Générale and other named banks and publishes quarterly reserve attestations from KPMG, according to the company.
This article was written by Damian Chmiel at www.financemagnates.com.
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