SwissBorg Joins Eurøpe Consortium to Back EURØP Euro Stablecoin

SwissBorg has signed on as a founding member of the Eurøpe Consortium, a group working to get a euro stablecoin called EURØP into practical use. The crypto app joins Schuman Financial, eToro and LCX in the founding lineup, according to Cryptobriefing.

The consortium’s stated focus is distribution and infrastructure for a regulated euro token that runs across several major blockchains, rather than pitching the concept. SwissBorg’s involvement predates the announcement: EURØP trading went live on the platform in December 2025, the same month the company joined the group as a founding member, Cryptobriefing reported.

Key facts

• EURØP is issued by Schuman Financial and is structured as an electronic money token under MiCA; it is 100% backed by euros, with an additional 2% reserve fund audited by KPMG and backing held at certified banks including Société Générale.
• The token runs on five blockchains — Avalanche, Ethereum, Polygon, Solana and XRPL — per Cryptobriefing; Schuman said it now runs on six and trades on Kraken, Bitvavo, Bit2Me, SwissBorg and Bitpanda, according to Financemagnates.
• SwissBorg moved user accounts to BlockNodes SAS, a MiCA-authorized French entity, in June 2026, covering users in the European Economic Area and the UK.
• In July 2026, SwissBorg launched a BORG rewards program on EURØP deposits with no lock-ups, running until August 2026, alongside zero exchange fees until August 31, 2026.
• EURØP had 15.5 million tokens in circulation on October 1, Schuman said, versus 403.1 million for Circle’s EURC, according to Financemagnates.

The wider consortium

Financemagnates reported that eToro joined 10 European crypto firms in the push, with the other members being Assetera, BLOX, Coinhouse, Coinmerce, DFNS, LCX, RockawayX, SwissBorg and XRPL Commons — mostly businesses running crypto exchanges, wallet infrastructure or blockchain ecosystem programs. The consortium plans to work on distribution, wallet and platform integrations, retail and institutional use cases, and education, with each member keeping its own commercial, technical and regulatory decisions. Members support EURØP “according to their role,” which can mean a listing, an integration or infrastructure work.

Ouriel Ohayon, head of crypto at eToro, said the company wants to help “make the euro a first-class currency on-chain,” according to Financemagnates. For eToro, a euro token would sit next to the dollar coin it already offers; the Nasdaq-listed broker let users buy, sell and convert USDC in September 2025.

A crowded field for euro tokens

Schuman Financial, founded by former Binance executives Martin Bruncko and Eduardo Morrison, launched EURØP in late 2024 after a EUR 7 million seed round led by RockawayX. Bruncko, the chief executive, said: “Regulation alone does not create a functioning market,” according to Financemagnates. Schuman is authorized as an electronic money institution by France’s Prudential Supervision and Resolution Authority and publishes quarterly reserve attestations from KPMG.

Dollar-pegged tokens still account for about 99% of global stablecoin market value, a European Central Bank Financial Stability Review from November 2025 found. Banks are pursuing their own route: Financemagnates reported that Qivalis, a venture backed by 37 lenders including BNP Paribas, ING and UniCredit, plans to issue a euro token under MiCA in the second half of 2026, subject to authorization by the Dutch central bank. Cryptobriefing framed the consortium as targeting a specific gap — building accessible infrastructure and real use cases for euro stablecoins in Europe under MiCA’s trading environment.

Why it matters

For European users, the practical change is a regulated euro token on the SwissBorg platform with fee waivers and BORG rewards attached for a limited window. The no-lock-up design matters because many crypto reward programs require users to commit funds for weeks or months, turning a stable asset into an illiquid one. The rewards are paid in BORG rather than euros, so users earning on a stable asset receive a token whose value can move, and the effective return depends on how BORG performs over the period. For Schuman Financial, distribution is central: every platform that lists EURØP and builds incentives around it widens the token’s reach.

What to watch

The BORG rewards program and the zero exchange fees on EURØP deposits both ran to the end of August 2026, so whether SwissBorg extends them is a near-term signal. Qivalis’s planned euro token, expected in the second half of 2026 subject to Dutch central bank authorization, will test whether bank-backed issuance competes with consortium-driven distribution. EURØP’s circulation gap against Circle’s EURC is the number to track as listings expand.

This article is not financial advice. The markets discussed here are volatile and uncertain, and token values can fall as well as rise.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: Crypto Briefing, Financemagnates