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Wirex Pay Partners with Schuman Financial to Integrate Euro-Backed Stablecoin EURØP
Web3 payment solutions provider Wirex Pay has entered a strategic partnership with Schuman Financial to integrate EURØP, a euro-denominated stablecoin, into its platform ecosystem.
The collaboration addresses a longstanding challenge in European digital finance, where USD-denominated stablecoins have dominated the market despite exposing European users to foreign exchange risks and regulatory complexities. EURØP offers a euro-native alternative designed specifically for the European market.
EURØP is now available within the Wirex App, enabling European users to buy, hold, and spend the stablecoin alongside traditional fiat currencies and cryptocurrencies. The stablecoin is issued by a French-licensed institution and regulated by the ACPR (Banque de France), with full compliance under the Markets in Crypto-Assets (MiCA) regulation.
Wirex Pay is integrating directly with Schuman Financial's mint and redeem infrastructure, streamlining issuance and redemption processes. This development is intended to enhance EURØP's liquidity and broaden access for both retail users and institutional partners across payment and treasury operations.
European regulators have implemented stricter oversight of digital assets through MiCA, which became partially effective in June 2024. The regulation requires stablecoin issuers to hold full reserves and meet specific operational requirements, creating demand for compliant alternatives to existing USD-denominated options.
Pavel Matveev, Co-Founder of Wirex, commented: "Our partnership with Schuman Financial aligns perfectly with our mission to bridge the gap between traditional finance and blockchain-based assets. By listing EURØP to our global user base, we're expanding access to a reliable, euro-backed stablecoin that meets the needs of businesses and consumers alike."
Daniel Rowlands, General Manager of Wirex Pay, added: "This collaboration is a key milestone as we work to build a robust, multi-chain payment infrastructure. Enabling direct minting and redemption of EURØP enhances our liquidity offering and opens the door to innovative new use cases and faster, more cost-effective transactions."
Martin Bruncko, Founder & CEO of Schuman Financial, says: "The partnership with Wirex is about building the rails for a sovereign and euro-denominated digital economy. We designed EURØP with a compliance-first approach, and we're excited to provide Europeans with a trusted euro stablecoin. With Wirex Pay, we're unlocking real-world use cases for millions of users and taking a major step toward putting Europe at the forefront of digital finance."
Wirex Pay operates a stablecoin payment platform built on Zero Knowledge technology and offers non-custodial Visa cards enabling users to spend stablecoins at over 80 million merchants across 200+ countries. Schuman Financial holds an Electronic Money Institution licence in France, with EURØP reserves custodied by major European banks including Societe Generale and audited by KPMG.
