eToro Joins Eurøpe Consortium to Support Euro-Backed Stablecoin

eToro has become the latest member of the Eurøpe Consortium, a group of European crypto firms backing the euro-backed stablecoin EURØP. The consortium now includes ten companies, such as Assetera, BLOX, Coinhouse, and SwissBorg, all working to promote the adoption of EURØP. Each member operates independently, supporting the stablecoin through listings, integrations, or infrastructure, depending on their role.

EURØP is issued by Schuman Financial, which describes it as an e-money token regulated under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The token is pegged 1:1 to the euro, with reserves held in cash and cash equivalents, and quarterly attestations by KPMG to ensure parity. Martin Bruncko, CEO of Schuman Financial, emphasized that regulation alone does not create a functioning market.

While eToro has joined the consortium, it has not yet committed to listing EURØP. The stablecoin launched in late 2024 and is already trading on platforms like Kraken, Bitvavo, and Bitpanda, with 15.5 million tokens in circulation as of October 1. A rival euro stablecoin, backed by major banks including BNP Paribas and ING, is expected to launch in the second half of 2026, pending approval from the Dutch central bank.