XRP Ledger (XRPL) Expands Its Stablecoin Ecosystem with the Addition of Three New Tokens

The XRP Ledger (XRPL) added three stablecoins, EURØP, USDB, and XSGD, to its ecosystem this week.

The XRP Ledger (XRPL) has welcomed three new stablecoins to its ecosystem. Schuman Financial launched EURØP, a euro-pegged stablecoin, on May 22 as part of a broader push to support MiCA-compliant digital assets in Europe.

According to the announcement, the new token is fully backed by fiat currency reserves and will be compliant with the European Union's Markets in Cryptoassets (MiCA) regulation.

The French central bank-licensed firm stated that EURØP is backed by reserves held in major European banks and audited by KPMG. Moreover, Schuman Financial will ensure the token's price stability and convertibility with the euro at a 1:1 ratio throughout its lifetime.

Martin Bruncko, CEO of Schuman Financial, highlighted that XRPL provides the scalability and security required for euro-denominalised innovation on the blockchain.

“This will give Europe and euro-denominated financial markets an integral infrastructure for the next wave of financial innovation, which is happening on-chain,” Bruncko added.

On the same day, Brazilian fintech firm Braza Group launched USDB, a US dollar-backed stablecoin on XRPL.

The development builds on Braza's earlier initiative to introduce BBRL, a Brazilian real-pegged stablecoin, which is already operational on XRPL.

The firm, which is known for its digital banking services in Brazil, explained that USDB is designed to provide users in the country with a new tool for hedging against currency volatility while enabling faster digital transactions.

“We believe that by the end of next year, USDB could account for about 30% of Brazil's USD-pegged stablecoin market. This will be driven not only by our established presence but also by the creation of new pathways for global currency settlement,” said Marcelo Sacomori, CEO of Braza.

Furthermore, Singapore dollar-pegged XSGD, issued by StraitsX, went live on XRPL on Friday, May 19.

StraitsX is a leading digital payment infrastructure provider in Southeast Asia that launched its stablecoin in August 2021. The asset is backed one-to-one with reserves held at DBS Bank and Standard Chartered.

Financial institutions, startups, and developers can now access fast and cheap payments on a blockchain built for real-world utility, the statement noted.

“As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services,” said Liu Tianwei, Co-Founder and Deputy CEO at StraitsX.

The addition of the three stablecoins underscores XRPL's role in the fast-evolving global stablecoin market.

Earlier this year, XRPL has become a top choice for stablecoin issuers and institutional players thanks to its minimal transaction fees, rapid transaction speed, and inherent scalability. Moreover, the network includes built-in regulatory tools and native support for real-world asset tokenization.