eToro Joins European Consortium to Promote EURØP Euro Stablecoin

eToro, a Nasdaq-listed broker, has joined 10 European crypto firms in the Eurøpe Consortium to promote the use of a euro-pegged stablecoin called EURØP. The consortium, which includes companies like Assetera, BLOX, and Coinhouse, aims to increase adoption of EURØP by working on distribution, wallet and platform integrations, retail and institutional use cases, and education.

EURØP, issued in France by Schuman Financial, has 15.5 million tokens in circulation, according to its issuer. The token is currently listed on Kraken, Bitvavo, Bit2Me, SwissBorg, and Bitpanda. Schuman Financial is authorized as an electronic money institution by France's Prudential Supervision and Resolution Authority (ACPR) and holds EURØP reserves at Société Générale and other named banks.

Ouriel Ohayon, head of crypto at eToro, stated that the company wants to help 'make the euro a first-class currency on-chain.' The consortium's efforts come as banks are also exploring the creation of their own euro tokens, 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.