In short
- You may know RLUSD, a US dollar stablecoin. The XRP Ledger also carries euro stablecoins.
- EURCV went live on the XRP Ledger in February 2026, its issuer says. EUROP was reported added in May 2025.
- Europe’s securities regulator told national regulators in October 2026 that firms should stop offering stablecoins that do not meet Europe’s crypto rules, within three months.
- Whether these two tokens meet those rules is not yet confirmed here, so this article does not say they do.
Not only dollars
If you have read about RLUSD, you have met one kind of stablecoin: a token meant to hold the value of one US dollar. Other currencies can work the same way. For a reader in Europe, or a business paid in euros, a euro token on a ledger is the same idea in their own money.
What a euro stablecoin is
A euro stablecoin is a digital token meant to be worth one euro. A company issues it and holds money or similar assets behind it. Because it lives on a ledger, it can move between people at any hour, without waiting for bank opening times.
The token is only as good as the company behind it and the rules it follows. That is why the issuer and the regulator count for as much as the technology.
Two euro tokens on the XRP Ledger
The table sets the two side by side.
| Token | Issuer | On the XRP Ledger | Standing |
|---|---|---|---|
| EURCV | SG-FORGE | Launched, 18 Feb 2026 | Live, per issuer |
| EUROP | Schuman | Reported, May 2025 | Reported by press |
EURCV, short for EUR CoinVertible, is issued by SG-FORGE. On 18 February 2026, SG-FORGE said EURCV was now launched on the XRP Ledger. That is the issuer’s own statement.
EUROP is issued by Schuman Financial. In May 2025, the payments news site The Paypers reported that Schuman had added EUROP to the XRP Ledger, and described Schuman as a licensed electronic money institution overseen by the French financial regulator. That is a press report, not the issuer’s own page.
Europe’s rules, and the October 2026 opinion
Europe has one set of rules for crypto assets, known as MiCA. On 8 October 2026 ESMA, Europe’s securities regulator, issued an opinion to national regulators. It said crypto firms should end services in stablecoins that do not meet those rules within three months.
Three points help you read that clearly. The opinion is addressed mainly to regulators, not to firms directly. It names no token or issuer. And the opinion does not call itself binding.
What is not confirmed
Neither issuer’s standing under MiCA has been checked here against the official register. So this article does not call either token MiCA-compliant.
If you come across a euro token anywhere, the questions are the same. Who issues it? Which regulator oversees that issuer? And what is held behind each token?
And in Australia
Australia is taking its own path. Payment stablecoin issuers are proposed to be regulated as stored value facilities under payments licensing reforms. An exposure draft went out for comment from 12 March to 9 April 2026. No bill has been introduced, so this is a proposal, not law.
My view
In my view, the XRP Ledger is the technology best placed to carry money like this, in many currencies. That’s my opinion, and you don’t have to share it.
One easy next step
If you would like the money lessons in order, from what the XRP Ledger is to how stablecoins work, the free lessons by email walk through each one in plain words. All you need is your first name and email.
Nicholas holds some of the assets discussed in this article.
Education only, not personal or financial advice.