SwissBorg joins Eurøpe Consortium to back euro stablecoin EURØP

SwissBorg has joined the Eurøpe Consortium as a founding member. The group’s goal is to get a euro stablecoin called EURØP used in practice, not just in pitch decks. The crypto app sits alongside Schuman Financial, eToro and LCX in the founding lineup. The consortium’s focus is distribution and infrastructure for a regulated digital euro token that runs across several major blockchains. What SwissBorg is signing up for EURØP is issued by Schuman Financial. It is structured as an electronic money token, or EMT, under the EU’s Markets in Crypto-Assets regulation, known as MiCA. An EMT is the category MiCA uses for crypto tokens that track a single official currency. Put simply, EURØP is meant to behave like a euro that moves on a blockchain. The token is 100% backed by euros. On top of that one-to-one backing, Schuman Financial keeps an additional 2% reserve fund. That reserve is regularly audited by KPMG. The backing is held at certified banks, including Société Générale. EURØP currently operates on five blockchains: Avalanche, Ethereum, Polygon, Solana and XRPL. That spread lets the token reach users across several of the larger smart contract and payments ecosystems rather than li...