EUROPStablecoin

EURØP Euro Stablecoin

Circulating supply: $12M
29D change: -0.3%
Yield: None
NAV: 1.0000
Management fees: 0.00%
Minimum: $0
Redemption: Intraday
Launched: 17 Sept 2024

Depends onSG FORGE Fireblocks Custody & Transfer Infrastructure SG FORGE Chainlink Proof of Reserve & NAVLink BVNK Settlement Rails

Field coverage 96%Primary-source or on-chain verified 33% of tracked metrics2/2 source documents analyst-verifiedLast reconciled 13 Nov 2026

Overview

What this product is

Fully compliant euro Electronic Money Token (EMT) authorized under the EU Markets in Crypto-Assets (MiCA) regulation by the French Prudential Supervision and Resolution Authority (ACPR). Reserves sit in segregated tier-one European credit institutions with a statutory minimum 30% cash deposit buffer.

Underlying asset: Segregated euro cash deposits and short-dated European sovereign treasury bills
Asset class: Stablecoin
Product structure: E-Money Token
Legal structure: EU MiCA E-Money Token
Issuer jurisdiction: France
Fund domicile: France
Base currency: EUR
Launched: 17 Sept 2024

Peer set

Comparable products

Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.


EURC	0.00%	0.00%	$0	$565.9M
EURCV	0.00%	0.00%	$0	$160.2M
SEUR	0.00%	0.10%	$1	$48M
EURD	0.00%	0.00%	$0	$32M
EURR	0.00%	0.00%	$0	$19M
EUROPthis product	0.00%	0.00%	$0	$12M
EURQ	0.00%	0.00%	$1	$5.5M

Issuer

Who runs it

Schuman Financial

France

French ACPR-regulated Electronic Money Institution issuing MiCA-compliant EURØP euro stablecoins.

Portfolio

Composition

Euro demand deposits at regulated French credit institutions45.0%
French and German sovereign treasury bills (BTFs/Bubills)55.0%

Weighted average maturity

18 days

Reserves

Attestation

Reserve composition

What actually backs the float, from the most recent independent attestation.

Euro demand deposits at regulated French credit institutionsBank deposits45.0%
French and German sovereign treasury bills (BTFs/Bubills)Treasury bills · 0–3 months55.0%

Attestation

Verification history

Attesting firm: Mazars / Forvis Mazars
Frequency: monthly
Last attestation: 01 Aug 2026
Reserve WAM: 18 days

An attestation confirms the reserve existed on a reporting date. It is not an audit, and it says nothing about what a holder legally owns if the issuer fails, that question is answered by the legal structure, not the reserve report.

Risk

Reserve profile

Who holds the reserves, and whether the yield they earn reaches you or stays with the issuer.

Held as bank deposits45.0%

Deposits are unsecured claims on a bank; government securities are not. A higher share means more bank credit exposure inside a product marketed as cash.

Backing type: fiat backed
Yield to holders: Retained by the issuer
Peg currency: EUR

Par redemption access

MiCA statutory right of par redemption directly against Schuman Financial S.A.S. at any time without punitive exit fees.

On-chain history begins 15 Oct 2026 and covers 29 days of readings.

AUM

$12M

Assets under management

-0.3% over 29 days held

Yield

0.00%

Yield history. No yield

+0.0% over 29 days held

NAV

1.0000

NAV per token (stable $1.00)

This fund maintains a constant NAV of EUR 1.00 and distributes yield through token supply rather than price. NAV history is therefore flat by construction; monitor supply and yield instead.

-0.3% over 29 days held

Movement

Recent daily movement

Net movement -$37.2KOver 29 daysChange -0.3%


12 Nov 2026	$12M	-$1.8M	-12.9%
11 Nov 2026	$13.7M	$1.2M	+9.7%
10 Nov 2026	$12.5M	$1.6M	+14.7%
09 Nov 2026	$10.9M	$4K	+0.0%
08 Nov 2026	$10.9M	-$5.4K	-0.0%
07 Nov 2026	$10.9M	$324.4K	+3.1%
06 Nov 2026	$10.6M	$2M	+23.0%
05 Nov 2026	$8.6M	-$86.5K	-1.0%
04 Nov 2026	$8.7M	$213.2K	+2.5%
03 Nov 2026	$8.5M	-$36.7K	-0.4%

Redemption

Terms

Contractual terms

Redemption frequency: Intraday
Dealing cut-off: 24/7 on-chain; SEPA business hours for cash payout
Settlement: Par redemption at 1 EUR within statutory SEPA execution windows
Redemption fee: None
Secondary venues: European crypto venues, Uniswap
Transfer restrictions: Freely transferable MiCA EMT. Issuer retains freeze and blacklist capability pursuant to French AML regulations.

These are contractual terms from the offering documents. Observed settlement performance and any discretionary accommodation by the manager are explicitly out of scope.

Assessment

Liquidity profile

Primary redemption

Intraday · Par redemption at 1 EUR within statutory SEPA execution windows

Off-hours exit

Available continuously

Secondary market

European crypto venues, Uniswap

Transferability

Freely transferable after compliance period

Exit fee

No redemption fee

Relationship graph

Operational dependency network

Every firm and system this product relies on. Select any of them to open its profile.

Every counterparty and system this product depends on to function. Each card links to that entity's own profile: the question worth asking of each is what happens to your position if it stops working.

Open in Ecosystem Graph →

Issuance & legal

Who is legally on the hook for this product.

Issued bySchumanFrancederived Administered bySchumanFrancederived

Custody

Where the backing assets actually sit.

Custodied bySG FORGEFrancederived Reserves custodied byFireblocks Custody & Transfer InfrastructureFireblocksderived Reserves custodied bySG FORGEFrancederived

Platform & data

The software and price sources the product runs on.

Price feed powered byChainlink Proof of Reserve & NAVLinkChainlink Labsderived

Markets & settlement

Where it trades and how value moves between venues and chains.

Settles viaBVNK Settlement RailsBVNKderived Deployed onEthereumpublic l1 · 100% of supplyderived

Edges marked derived are inferred from a structured field on this product that carries its own source; they are not independent confirmation of it. Edges without that mark were sourced separately from a disclosure naming both parties.

Deployments

Registry

Networks and contracts

		Contract / asset id
EthereumPrimary	public l1	0x888883b5f5…fb0e5e51	100.0%

Counterparties

Service providers

If any of these has a problem, this product is affected.

Custodian: SG FORGE· France
Administrator: Schuman· France
Transfer agent: Not disclosed
Tokenization platform: Schuman· France
Oracle / attestation: Chainlink Proof of Reserve

Access

Classification

Who may hold this

RetailEligible

AccreditedEligible

ProfessionalEligible

InstitutionalEligible

Minimum investment: $0
Allow-list required: No
Transfer restrictions: Freely transferable MiCA EMT. Issuer retains freeze and blacklist capability pursuant to French AML regulations.

Geography

Where it is available

United StatesNot available

European UnionNot available

SingaporeAvailable

United KingdomNot available

SwitzerlandAvailable

Hong Kong SARNot available

United Arab EmiratesNot available

Explicit prohibitions

−United States

Availability is limited to the jurisdictions in the coverage boundary. Absence here means not covered, not necessarily prohibited. This is a classification of the offering documents, not legal advice.

Structure

Legal and regulatory

Legal structure: EU MiCA E-Money Token
Product structure: E-Money Token
Fund domicile: France
Issuer jurisdiction: France
Transfer agent: Not disclosed

The domicile of the fund and the jurisdiction of its manager are frequently different. Both are recorded separately because they drive different questions: tax and insolvency follow the domicile, supervision follows the manager.

Source documents

Offering documentation

The documents behind the figures on this page. Anything marked verified has been checked by an analyst.

MiCA E-Money Token White Paper — EURØPfiling · 10 Jan 2026Parsed & verified↗Monthly Reserve Attestation — Jul 2026attestation · 01 Aug 2026Parsed & verified↗

On-chain activity

Daily value outstanding

Value outstanding as read from the token contracts each day, and the movement between readings. Mints and redemptions are not separable on-chain, so this is the net of both, not gross issuance.

Net movement -$37.2KOver 29 daysChange -0.3%


12 Nov 2026	$12M	-$1.8M	-12.9%
11 Nov 2026	$13.7M	$1.2M	+9.7%
10 Nov 2026	$12.5M	$1.6M	+14.7%
09 Nov 2026	$10.9M	$4K	+0.0%
08 Nov 2026	$10.9M	-$5.4K	-0.0%
07 Nov 2026	$10.9M	$324.4K	+3.1%
06 Nov 2026	$10.6M	$2M	+23.0%
05 Nov 2026	$8.6M	-$86.5K	-1.0%
04 Nov 2026	$8.7M	$213.2K	+2.5%
03 Nov 2026	$8.5M	-$36.7K	-0.4%
02 Nov 2026	$8.5M	-$5K	-0.1%
01 Nov 2026	$8.5M	-$6.3K	-0.1%
31 Oct 2026	$8.5M	-$179.7K	-2.1%
30 Oct 2026	$8.7M	-$1.1M	-11.3%
29 Oct 2026	$9.8M	$201.1K	+2.1%
28 Oct 2026	$9.6M	-$1.7M	-14.7%
27 Oct 2026	$11.3M	$2.6M	+30.6%
26 Oct 2026	$8.6M	$1.3K	+0.0%
25 Oct 2026	$8.6M	-$778	-0.0%
24 Oct 2026	$8.6M	$3.1K	+0.0%
23 Oct 2026	$8.6M	-$3.6M	-29.4%
22 Oct 2026	$12.2M	$2M	+20.0%
21 Oct 2026	$10.2M	$1.4M	+15.6%
20 Oct 2026	$8.8M	-$75.3K	-0.8%
19 Oct 2026	$8.9M	-$2.7M	-23.1%
18 Oct 2026	$11.6M	$15.3K	+0.1%
17 Oct 2026	$11.5M	-$2.1K	-0.0%
16 Oct 2026	$11.5M	-$451.1K	-3.8%
15 Oct 2026	$12M	-	-

Related intelligence

1 events reference this product

10 Nov 2026Product

SwissBorg launches free 1:1 swaps between EUR and EURØP via issuer Schuman Financial - Crypto Briefing

SwissBorg integrated Schuman Financial's EURØP euro stablecoin, enabling fee-free 1:1 swaps against fiat EUR to boost on-chain liquidity.

Eliminating friction and swap fees between fiat EUR and EURØP deepens secondary market liquidity for compliant Euro-denominated stablecoins. This integration strengthens the utility of EURØP as a settlement asset for tokenized money market funds and RWA transactions across European digital asset venues.