Crypto

eToro and European Firms Unite to Promote Euro Stablecoin EURØP

Guavy AI Editorial Team Published October 5, 2026

eToro has joined forces with 10 other European crypto firms to promote the use of a euro-pegged stablecoin, known as EURØP. The consortium, called Eurøpe, aims to make the euro a widely accepted currency in the crypto market. eToro's head of crypto, Ouriel Ohayon, wants to 'make the euro a first-class currency on-chain.'

The Eurøpe Consortium will work on distribution, wallet and platform integrations, retail and institutional use cases, and education. Each member will retain its own commercial, technical, and regulatory decisions.

EURØP, issued by Schuman Financial in France, has 15.5 million tokens in circulation, and its issuer, Schuman, is authorized as an electronic money institution by France's Prudential Supervision and Resolution Authority (ACPR). The token now runs on six blockchains and trades on several exchanges.

Banks are also exploring their own euro token options, with Qivalis planning 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.

eToro and European Firms Unite to Promote Euro Stablecoin EURØP

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