- Eleven European digital finance platforms have established the Eurøpe Consortium to transition regional regulatory rules into actual market utility.
- The coalition targets a massive structural imbalance where US dollar-backed tokens control 99% of global stablecoin value, leaving euro options with less than 1%.
- Initial operations center on Schuman Financial’s EURØP, a regulated e-money stablecoin currently available across six public blockchain networks.
The digital asset industry is making a significant structural shift to de-dollarization. Eleven leading European digital finance firms revealed a partnership on 5 October 2026 to create the Eurøpe ConsEuro Onchain Finance Gains Ground (Onchain) alliance. The industry-led alliance aims to aggressively transition the European Union’s Markets in Crypto-Assets (MiCA) regulatory rules into practical market share for euro-denominated onchain finance.
Euro to Counter Dollar Dominance
The project aims to rectify an extreme imbalance in the system. For digital-asset settlement, dollar tokens account for 99% of the total value of stablecoins, and euro tokens account for less than 1% of the global market. The situation compels European companies to process local economic transactions using dollar-related digital assets, despite the fact that the transaction itself starts and ends with euros. The founding partners of the consortium, such as SwissBorg, eToro, and wallet infrastructure provider DFNS, will combine their distribution efforts to make the euro native to public block-ledgers.
“The EU established a regulatory framework for euro-denominated stablecoins, but regulation alone does not create a functioning market,” said Martin Bruncko, founder and chief executive of Schuman Financial. “Adoption requires issuers, distribution platforms, infrastructure providers and broader financial and blockchain ecosystems to work together. The Eurøpe Consortium brings European financial innovators together to help ensure that the euro plays a meaningful role as global financial activity moves onchain.”
The initial part of the consortium’s plan is around EURØP, a euro-denominated e-money token that is issued by Schuman Financial in France. Platforms such as SwissBorg have been offering zero-fee trading of the asset while providing loyalty rewards for trading tokens every month as an incentive for early adopters. The coalition feels a consistent, multi-platform distribution approach will help tap organic liquidity in areas where single asset issuers faced the challenge of establishing a deep market.
“Our community has been able to hold and use EURØP for some time. What has been missing is a coordinated market around euro-denominated assets. I mean distribution, integrations and everyday use. That is what the Eurøpe Consortium is for, and it is why we are part of it,” said Cyrus Fazel, CEO of SwissBorg.
Interoperability and Ecosystem Execution
On the technical level, the venture overcomes the limitations of one network and rolls out EURØP on six different public blockchain architectures: Avalanche, Solana, Ethereum, Polygon, Plasma, and the XRP Ledger. The consortium’s activities are divided into integration of localized retail payment wallets, creation of corporate treasury management links and provision of cross-border settlement rails. The digital-native firms participating in the project (Coinhouse, Cozinmerce, BLOX, Assetera, LCX, RockawayX, and XRPL Commons) all have control over their own commercial and compliance structures.
“Stablecoins are becoming a fundamental part of global financial infrastructure. As more finance moves on-chain, the euro’s role should reflect its strength in the global economy. By joining the Eurøpe Consortium, etoro is helping build the liquidity, distribution and utility needed to make the euro a first-class currency on-chain,” said Ouriel Ohayon, Head of Crypto at etoro.
The coalition’s launch coincides with a broader race for euro tokenization. The members are focusing more on ensuring immediate engineering alignment across user wallets, decentralized apps, and tokenised asset platforms, rather than just on legislative compliance, to drive activity. The longer-term plan is to integrate traditional commercial banking systems, multinational payment processing firms, and fintech firms into its transactional network to bolster the reach of regional digital currency assets.
