XRP Ledger welcomes MiCA-comp Euro stablecoin EURØP; but can it compete with RLUSD and USDC?

Following Tether’s exit from Europe, Schuman Financial launched EURØP, a euro-backed stablecoin on the XRP Ledger. This stablecoin aims for compliance with MiCA regulations while offering low-cost and rapid transactions, targeting the European market.

EURØP enters a competitive field dominated by USDC and RLUSD, both adhering to MiCA standards. With USDC capturing 24.74% of the stablecoin market, the coming months will be pivotal in assessing EURØP’s ability to gain traction in a regulated environment.