Today, European digital-finance companies, joined by Nasdaq-listed etoro, launch the Eurøpe Consortium, an industry-led coalition to accelerate the practical adoption of euro-denominated onchain finance. DFNS is a founding participant, providing the digital asset infrastructure through which organizations hold and move the euro onchain. And the asset at the centre of the consortium’s first programme, EURØP, is supported on DFNS.
For us this is the second chapter of a story that began in July, when Schuman Financial chose DFNS as the infrastructure behind the issuance and distribution of EURØP. Issuance was the first problem. Adoption is the harder one, and no single company solves it alone.
The imbalance the consortium exists to fix
Stablecoins have become a fundamental means of payment and settlement in digital-asset markets, and roughly 99% of their market value is denominated in US dollars, according to the European Central Bank’s November 2025 Financial Stability Review. Euro stablecoins account for less than 1%. Onchain, the dollar outweighs the euro by more than 300 to 1, for a currency that represents 20% of global foreign-exchange reserves.
That imbalance feeds itself. The currencies most used for payments, trading, and treasury attract more integrations, more liquidity, and more users, which attracts more of the same. Left alone, European businesses end up running euro economic activity on dollar-denominated rails, converting at both ends, simply because the infrastructure is there.
Europe did the hard regulatory work first. MiCA gives euro stablecoins the clearest rulebook in the world. What remains is everything regulation cannot create: distribution, liquidity, integrations, and daily use. That is a coordination problem, and the Eurøpe Consortium is the first European cross-company coalition built to solve it around a stablecoin that is already issued and already regulated, rather than one still awaiting launch.
What EURØP is
EURØP is a euro-denominated e-money token issued under MiCA by Schuman Financial, an electronic money institution authorised by the ACPR in France, with authorization across the EU and EEA. It is backed one to one by euro reserves and high-quality liquid assets held at Société Générale and other named credit institutions, with quarterly reserve attestations by KPMG. It is live on six public networks, Ethereum, Polygon, Avalanche, Solana, the XRP Ledger, and Plasma, available on Kraken, Bitvavo, Bit2Me, SwissBorg, and Bitpanda, and traded on Curve, Orca, and Pharaoh, with €116.8 million in transfers over the past thirty days. Not a token adapted to Europe, but a European instrument from the ground up.
Who is building the market
The consortium brings together the full value chain. Schuman Financial issues. SwissBorg, Coinhouse, Coinmerce, LCX, and BLOX provide the trading and distribution routes through which European customers already manage their money. etoro brings a global, Nasdaq-listed investment platform and mainstream investor distribution. Assetera connects euro digital money to tokenised assets and institutional market applications. XRPL Commons connects the initiative to developers and applications across the XRP Ledger ecosystem. RockawayX, an investor in Schuman Financial, brings capital and industry relationships. And DFNS provides the infrastructure through which organisations hold and move digital assets.
Participants will coordinate across four areas: access and distribution, making regulated euro stablecoins available on the platforms Europeans already use; infrastructure and integrations, with wallets, trading platforms, tokenised-asset infrastructure, and blockchain networks; practical applications across retail, institutional, payment, and tokenised-market use cases; and market development through education and engagement. Each participant keeps responsibility for its own commercial, technical, and regulatory decisions, and contributes according to its role.
“The EU established a regulatory framework for euro-denominated stablecoins, but regulation alone does not create a functioning market,” said Martin Bruncko, founder and CEO of Schuman Financial. “Adoption requires issuers, distribution platforms, infrastructure providers and broader financial and blockchain ecosystems to work together.”
What DFNS brings
Our role in the consortium is the role we play for every institution on the platform: the operating layer between a business and the networks its money moves on. For EURØP, that means a bank, fintech, or payment company on DFNS can hold the token in wallets and vaults across Ethereum, Polygon, Avalanche, Solana, and the XRP Ledger, move it with the full transaction lifecycle managed end to end, manage euro-denominated treasury alongside every other asset, and govern every movement through the Policy Engine, with approval quorums, limits, allowlists, and screening enforced before anything signs, and a complete audit trail behind it. For Schuman Financial itself, DFNS already provides the issuance and distribution infrastructure, with minting and burning run as policy-governed operations.
Within the consortium’s infrastructure and integration workstream, that is the contribution we intend to make: the connections that let euro digital money move between issuer, venues, tokenised assets, and institutions without each pair building its own bridge. A euro stablecoin becomes useful when the institutions that already run on common infrastructure can adopt it without a project. Many of them run on DFNS.
Why we joined
EURØP is issued in Paris, supervised by the Banque de France’s prudential authority, backed at European banks, and attested by KPMG. DFNS is headquartered in Paris, built for MiCA and DORA from the ground up, and runs beneath a growing lineage of European regulated institutions, including fellow consortium participant Coinhouse. Europe wrote the rules for onchain money before anyone else. It should not end up renting the rails. The euro’s share of onchain finance is going to change. Today, a coalition of the companies able to change it got to work. DFNS is proud to be one of them.
Get started
- Learn more about the Eurøpe Consortium: europeconsortium.io
- Learn more about EURØP: schuman.io/europ
- Learn more about onchain core banking: dfns.co
- Talk to our team about euro stablecoins: sales@dfns.co
