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Trump’s Meme Coin Dinner Draws Protests Calling For End to ‘Crypto Corruption’

by admin May 23, 2025

In brief

Protesters carried signs like “Grift Gala” and “America is not for sale” as Trump dined with $TRUMP token holders.
The protest event was organized by Americans for Tax Fairness, Public Citizen, and Our Revolution.
Ahead of the dinner, democrats introduced a bill banning presidents from crypto ownership while serving their terms.

More than a hundred protestors gathered Thursday outside Trump National Golf Club in Sterling, Virginia, as President Donald Trump hosted a controversial private dinner for top holders of his meme cryptocurrency, $TRUMP.

Demonstrators waved placards reading “Stop Crypto Corruption” and chanted “Shame!” as the president arrived.

One group hoisted a giant golden coin bearing Trump’s scowling face, drawing attention to what they labeled a “Grift Gala”.

The protest was coordinated by advocacy groups, including Americans for Tax Fairness, Public Citizen, and Our Revolution, which denounced the event as political influence for sale.

“Trump is openly selling influence through his meme coins while selling out Medicaid to pay for tax cuts for his rich donors. It’s beyond corrupt,” said Our Revolution in a statement on X.

The White House press office has been contacted for comment.

The backlash adds to mounting scrutiny over Trump’s embrace of digital assets, which critics say blurs ethical lines between public office and personal gain.

The dinner was held for the top 220 investors in the $TRUMP token, a meme coin launched by the president in January. According to organizers, the top 25 holders will also attend a cocktail reception Friday evening.

The complete guest list has not been disclosed. Confirmed attendees include crypto mogul Justin Sun, who was previously under U.S. investigation for his crypto dealings.

Lamar Odom, the former NBA star and ex-husband of Khloé Kardashian, was also spotted entering the event.

Press access to the event was denied, and White House officials declined to release the attendee list as the president is “attending it in his personal time.”

As Trump and his family’s crypto ventures mount, legislators are seeking to temper his ability to profit from crypto hype he is in part driving himself.

Ahead of the gala, Rep. Maxine Waters (D-CA) introduced the “Stop TRUMP in Crypto Act of 2025,” barring sitting presidents and close relatives from owning or profiting from cryptocurrencies.

“Enough is enough,” Waters previously said in a statement shared with Decrypt. “Congress can no longer ignore the biggest scam and abuse of power in American history.”

Criticism has also emerged from within the crypto community. Some developers and investors warned that Trump’s direct entanglement in meme coins damages legitimacy and invites regulatory blowback.

Edited by Sebastian Sinclair

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May 23, 2025 0 comments

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Hyperliquid responds to CFTC on perpetuals and 24/7 Trading

by admin May 23, 2025

Decentralized finance protocol Hyperliquid submitted formal responses to the U.S. Commodity Futures Trading Commission’s recent requests for comment on perpetual futures and 24/7 trading.

In a May 22 Medium post, the Hyper Foundation said it submitted two letters to CFTC to help shape emerging U.S. regulatory frameworks. The team described how Hyperliquid’s (HYPE) onchain system already manages trading 24/7 while upholding strong risk controls, user security, and openness.

According to Hyperliquid, its platform lowers risk by utilizing pre-funded collateral and automatic liquidations. The system is more open and resilient than traditional markets because trading occurs continuously and all trades, margin adjustments, and liquidations are visible to the public onchain.

Hyperliquid noted in its remarks on perpetual derivatives that these crypto-native products are already in use and provide advantages like improved liquidity, no rollover requirements, and simpler smart contract integration. Rather than trying to force new products into outdated categories, the team urged the CFTC to adopt a flexible regulatory approach that prioritizes risk and user safety.

The CFTC’s request for comment, which closed on May 21, was aimed at understanding how these fast-growing crypto markets work and whether new rules are needed. No new regulations have been announced yet, but the agency may take action in the future.

With almost 70% in monthly trading volume share among decentralized perpetuals platforms, Hyperliquid has emerged as a market leader. In May, the platform also reached all-time highs for USD Coin (USDC) total value locked at $3.2 billion, fees at $5.4 million, and open interest at $8.9 billion. HYPE is up 85% in the past 30 days, and has risen almost 500% from its April lows.

The team said it hopes to continue working with regulators and sees Hyperliquid as a working example of how DeFi can improve modern markets.

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May 23, 2025 0 comments

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Toobit: Unpacking A Full-Service Crypto Exchange For Modern Traders

by admin May 23, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Although Toobit is a relatively new entrant in crypto trading, it’s already making a great impression in the crypto trading industry. Launched in 2022 and backed by big investors such as Bybit and Huobi Ventures, the platform now has over 3 million active users, 200,000+ community members, and more than $15 billion in daily trading volume. And it’s not just hype—Toobit is trying not to be merely a crypto exchange. So, what exactly sets Toobit apart from other crypto exchanges?

Split or Merge? Flexible Trading And Real Utility

One of the standout features of Toobit is its position management tools. While most platforms offer a one-dimensional approach, Toobit gives users a choice between split mode or merged mode. In the split mode, every trade is handled independently, making it ideal for multi-strategies and multi-directional trading. Merged mode, on the other hand, streamlines the process by consolidating trades in the same direction into a single position — perfect for traders who prefer a cleaner interface and minimal micromanagement.

For high-volume or institutional traders, Toobit offers API integrations for algorithmic trading and portfolio management, as well as high-liquidity trading environments. Users can access over 450 tools, including cryptocurrencies, derivatives, trading bots, and demo trading. Institutional traders can also apply for customized withdrawal limits and other tailored services.

Being able to run both long and short positions simultaneously is also an advantage on Toobit, especially for more advanced trading strategies. This level of flexibility is uncommon among retail-facing exchanges and will undoubtedly appeal to traders who value greater control and customization.

Copy trading is another standout feature, offering over 40 zero-slippage trading pairs. Combined with automated tools such as Futures Grid and DCA (Martingale), Toobit provides a well-equipped toolkit for users looking to streamline and optimize their trading strategies.

Simple But Practical

The user experience is quick and friction-free. New users can sign up and deposit in under two minutes. Both the desktop and mobile interfaces are well-designed and functional, offering features such as alerts, trade volume notifications, and customizable portfolio views.

For those who need guidance, Toobit provides a range of educational resources, including tutorials, FAQs, and a help center. Customer support is available 24/7 through multiple channels, including Telegram and WhatsApp. It may not be groundbreaking, but it delivers the level of convenience users now expect in 2025.

Fees That Make Sense

Fees are often the dealbreaker for crypto traders, especially high-frequency ones. Toobit keeps it simple. No charges to open or maintain an account, no inactivity or portfolio transfer fees. Buying crypto incurs a 0.1% fee, and selling is slightly cheaper at 0.075%. Deposit fees? Zero. Withdrawal costs vary by blockchain network.

Crypto swaps incur no fees, which is a rare and valuable advantage. While fiat on-ramp services do carry fees, these are charged by third-party providers such as Simplex—not by Toobit itself.

Security And Trust

Toobit takes security seriously. There has been no record of a data breach. No evidence of customer information being sold or misused, and it employs standard features such as 2FA (via SMS, email, or third-party apps), security PINs, and device recognition. The platform stores cold wallets on air-gapped devices and protects hot wallets with AES-256 encryption and AI-powered surveillance tools. Standard stuff, but well-executed.

To minimize risks, the platform’s Bee-Safe technology incorporates multi-layered security, including hardware security modules and multi-party computation wallets. Toobit also partners with top blockchain security firms such as Beosin and Elliptic for regular audits.

Community And Global Reach

Toobit is creating a global community. With over 200,000 community members and 3,000 active influencers across major regions, such as in the US, UK, East Asia, and CIS countries, the exchange is rapidly expanding. The platform’s interface is available in 11 languages, making it accessible and user-friendly for international users.

The referral and affiliate programs provide an added layer of engagement, rewarding users with commissions and bonuses for bringing new traders to the platform.

Beyond Trading: Toobit’s Ecosystem In The Making

Toobit goes beyond traditional features by offering a Telegram Mini App that allows users to send and receive crypto gifts. Gifts can be sent as “Standard” (equal split) or “Lucky” (random distribution), and claimed funds are deposited directly into users’ Spot accounts.

Its partnership with NovaMeme also shows Toobit’s commitment to bridge the gap between centralized and decentralized finance. This integration offers early access to IDOs, cross-chain token swaps, and DEX services across ecosystems such as Solana, Ethereum, and Binance Smart Chain.

Final Take

Toobit doesn’t reinvent crypto trading but enhances many core features while offering greater flexibility than most platforms. With split and merged position options, zero-slippage copy trading, robust security, and low fees, it delivers a well-rounded trading experience.

There’s no NFT support, and some features might be underutilized by casual traders. But overall, Toobit is definitely worth checking out—especially for traders seeking a customizable, low-fee, high-performance trading environment.

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May 23, 2025 0 comments

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America’s Biggest Banks Consider Teaming Up to Challenge $245B Stablecoin Market: WSJ

by admin May 23, 2025

In brief

Major U.S. banks, including JPMorgan and Bank of America, are reportedly exploring a shared stablecoin project.
The move hinges on pending federal legislation, such as the GENIUS Act, which would set regulatory standards for stablecoin issuance and oversight.
The initiative could position banks to compete with crypto-native issuers Circle and Tether.

Major U.S. banks are reportedly exploring a joint stablecoin venture to compete directly with the crypto industry’s growing dominance in digital payments.

Discussions are ongoing between JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and others through their co-owned payment companies, including Early Warning Services and the Clearing House, according to a Wall Street Journal report.

Those discussions hinge on forthcoming stablecoin legislation that could help form frameworks for banks and non-banks to issue stablecoins.

Stablecoins are digital currencies typically pegged to the U.S. dollar or other fiat currencies and, in recent years, are increasingly being backed by Treasurys.

While some see them as “destabilizing” to economic and fiscal policy, “individuals and businesses see a tremendous benefit,” Pedro Lapenta, head of research at Hashdex Asset Management, told Decrypt.

And the timing couldn’t be more apt.

This week, the Senate moved forward with the GENIUS Act, a bipartisan bill that aims to regulate payment stablecoins by setting federal reserve standards, transparency, and issuer oversight.

If the act becomes law, stablecoins could “accelerate the adoption of digital assets” in general and strengthen “the investment case for Bitcoin and other crypto,” Lapenta said.

But it isn’t really about the investor. Banks see the changing regulatory landscape as a possible green light to begin exploring ways to challenge the dominance of Circle and Tether’s stranglehold over the $245 billion stablecoin market.

Circle, a U.S.-regulated issuer, initially launched its USDC stablecoin in 2018 alongside Coinbase through the Centre Consortium, in a bid to offer an alternative to Tether’s market-leading USDT, which debuted in 2014 on the Bitcoin-based Omni Layer.

Tether has maintained a dominant position in the stablecoin sector despite years of scrutiny over the transparency of its reserves.

Since 2022, the stablecoin issuer has released quarterly attestations, in a bid to assuage concerns. It now accounts for more than 60% of the market.

Circle, on the other hand, has sought to differentiate USDC by positioning it as a more compliant product, citing third-party attestations and closer regulatory engagement in the U.S.

But it, too, has had its own set of problems, including a temporary depegging of USDC in 2023 following the collapse of Silicon Valley Bank, stalled plans to go public via a SPAC deal in 2022, and declining market share.

The entry of major global financial firms may soon test the staying power of both incumbents and chip away at their dominance.

Hong Yea, co-founder and CEO of GRVT, a licensed on-chain exchange, told Decrypt crypto-native issuers still have a critical role to play as traditional finance builds new infrastructure.

“Crypto-native stablecoin issuers get an intrinsic grasp of how the blockchainized world functions,” Yea said. “Their years of experience, knowledge, and trials would be invaluable for the construction of institutional-grade stablecoin infrastructure.”

He likened the dynamic to traditional industries relying on digital consultants during early transformation efforts.

“The traditional financial world’s navigation into the on-chain economy could have some help too from the natives,” he said.

Yea added that if legacy players are to seriously engage with the stablecoin sector, crypto issuers must also step up their alignment with regulatory norms.

“I’d advocate for industry leaders to adopt a more proactive fashion with regulations and compliance,” he said. “Without hand-in-hand efforts from both sides, it’s going to be hard for the pie to grow as a whole.”

For now, the discussion among banks remains in its infancy and could change at any time, per the report.

Tether and Circle did not immediately respond to requests for comment.

Edited by Sebastian Sinclair

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May 23, 2025 0 comments

Sui-based Cetus Protocol offers $6M bounty to hacker after $223M exploit

GameFi Guides

Cetus Protocol offers hacker $6M bounty after $223M exploit

by admin May 23, 2025

Cetus Protocol, the largest decentralized exchange on the Sui blockchain, is offering a $6 million bounty to the hacker behind a massive $223 million exploit that occurred on May 22.

In a May 22 follow-up statement accompanied by an on-chain message, the Cetus team confirmed they had identified the attacker’s Ethereum wallet and offered a “whitehat settlement” to recover user funds. The hacker is being asked to return 20,920 ETH and all frozen assets on Sui (SUI) in exchange for keeping 2,324 Ethereum (ETH), worth approximately $6 million, and immunity from legal action.

Cetus said this is a time-sensitive offer and that if the funds are off-ramped or mixed, the deal is off. The team is coordinating with law enforcement, cybercrime specialists, the Sui Foundation, and regulators including FinCEN and the U.S. Department of Defense. Inca Digital, a cybersecurity firm, is leading the negotiation efforts.

📜 Dear Sui community, thank you for your patience while our team works on the incident investigation and resolution.
Since taking the actions indicated in our previous announcement, we have also done the following:
1. We engaged the broader ecosystem, Sui team, and related… https://t.co/Gs1EWXZ6AD
— Cetus🐳 (@CetusProtocol) May 22, 2025

The breach exploited a vulnerability in Cetus’ pricing mechanism and impacted its concentrated liquidity market maker pools. The attacker used spoof tokens, which are fake or low-value assets with manipulated metadata, to inject tiny amounts of liquidity into trading pools.

Because of the distortion of those pools’ internal accounting, the hacker was able to take out substantial quantities of valuable tokens, such as SUI and USD Coin (USDC), at incorrect exchange rates.

The attacker deceived the system into believing the pools were balanced by carefully timing these spoof token deposits with complex flash swaps and price manipulation. As a result, they were able to drain substantial real assets without supplying equivalent value.

Cetus had reportedly passed recent security audits prior to the hack. However, by exploiting internal pricing logic and economic assumptions rather than simple code errors, the attacker’s method evaded typical vulnerability scans.

After initially draining $11 million from an SUI/USDC pool, the attacker quickly intensified the attack. They bridged more than $60 million in stolen funds to Ethereum and bought over 21,900 ETH. They currently have millions of SUI, ETH, and stablecoins in their wallets.

The Sui ecosystem was severely damaged by the exploit. Smaller tokens like AXOL, HIPPO, and SQUIRT lost almost all of their value, while the SUI token dropped as much as 15%. CETUS, the token of Cetus, fell 20–33%. Trading volumes surged as users scrambled to withdraw funds.

Cetus has paused smart contracts following the hack the hack and is attempting to secure its platform. The incident raises questions about the security of DeFi protocols on newer chains like Sui and Aptos (APT). Although these ecosystems offer innovation, analysts warn that vulnerabilities in complex DeFi logic remain a persistent risk.

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May 23, 2025 0 comments

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Derivatives Behemoth CME Group Praises XRP’s Utility

by admin May 23, 2025

During an interview with futures trading veteran Anthony Crudele, CME Group’s Tim McCourt praised the utility of the Ripple-linked XRP token, claiming that it has “a really strong” use case.

“And when we also looked at XRP, it’s a similar story where it has a really strong use case,” McCourt said.

He has noted that the XRP Ledger is capable of processing 1,500 transactions per second.

Moreover, the XRP token is very actively traded in the spot market, according to McCourt.

As reported by U.Today, CME Group introduced XRP futures on May 19 after launching a similar product for Solana (SOL) earlier this year.

The products were launched in response to “clearly articulated customer demand,” McCourt said.

During the interview, he stressed that the crypto space is maturing, and CME aims to provide the necessary infrastructure for this evolution.

Notably, the Chicago-based derivatives giant launched both standard and micro XRP contracts.

“I think this might be the first time we’ve listed both flavors or both sizes of a contract at the same time,” McCourt added.

He has added that it speaks to a wide range of demand (among both institutional and retail investors).

With XRP futures, the derivatives giant has also offered various transactional handshakes and mechanisms that are already available for other ETFs.

Notably, CME Group expects the regulated futures to be critical infrastructure for exchange-traded products.

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May 23, 2025 0 comments

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YGG Launches New Publishing Arm, Debuts First Game ‘LOL Land’

by admin May 23, 2025

In brief

Yield Guild Games has launched a new publishing division, YGG Play, focused on casual, crypto-native titles it dubs “Casual Degen” games.
Its first release, LOL Land, is a browser-based board game that features Pudgy Penguins community characters and offers token-based rewards.
The game has launched exclusively on Pudgy Penguins’ Abstract Chain and has received over 100,000 pre-registrations ahead of release, according to YGG.

After four years of watching Web3 games struggle to find their audience, Yield Guild Games decided the industry had to rethink how it matches players with the kind of games they’re actually in for: lighthearted chaos, in a “casual degen” vibe.

Instead of chasing broad mainstream adoption, the guild protocol launched YGG Play, a new game publishing unit dedicated to games that embrace the degen culture, with LOL Land, a web browser-based game explicitly designed for crypto-native players who live in the proverbial trenches.

“People play casual games on their phones while commuting, waiting in line, or taking a break,” Gabby Dizon, co-founder of YGG, told Decrypt. “They do it for fun as well as rewards like streaks, badges, or collectibles. And they happily spend a lot of real money on those games.”

Through its years of establishing a foothold with Web3 gamers by pioneering the so-called “play-to-earn” movement from 2020, YGG has learned “what’s fun, what works and what doesn’t,” leading it to develop “some very strong opinions on how to best serve the crypto market,” Dizon explained in a separate statement shared with Decrypt.

The move represents a strategic shift for YGG from investing in Web3 games to creating them directly. Rather than targeting mainstream gamers, the guild is focusing on crypto-native users who trade memecoins, mint NFTs, and engage in speculative activities.

The new game, LOL Land, features four thematic boards, including YGG City, Beach Day, Carnival, and Ice World Wonderland, which showcases Pudgy Penguins IP with playable characters based on community members like Aaron Teng and Rusk0f.

The game offers two distinct gameplay modes. Free play provides unlimited rolls without token rewards, while premium mode requires purchasing rolls to earn points redeemable for YGG tokens from a $10 million prize pool.

The browser-based board game surpassed 100,000 pre-registrations before launching exclusively on Abstract Chain, according to YGG.

For LOL Land, players can “earn YGG tokens and [you] can use them to claim NFTs,” Dizon explained.

The game draws directly from Dizon’s experience in casual games and his experience in Web3 gaming thereafter.

“Before getting into crypto and founding YGG, I was a game developer for a little bit over 20 years,” Dizon shared with Decrypt. “I was making casual games for much of my career.”

Degens over mass market

The publishing strategy deliberately targets crypto enthusiasts rather than attempting to onboard traditional gamers. Dizon argues this approach addresses an underserved market segment larger than hardcore Web3 gaming.

“If you look at people who are trading memecoins, minting NFTs, or trading on exchanges, these are people that you can consider to be possible players under the ‘Casual Degen’ label,” Dizon said.

Asked about how he thinks Web3 games could last, Dizon, who claims to prefer playing single-player RPGs like Clair Obscur: Expedition 33, told Decrypt it’s a matter of perseverance.

“I do think that Web3 games can have a lasting impact on people,” he said. “It’s hard to make games in general. It’s even harder to make games that have new technology and figure out what the right format is for that technology, for people to use it.

Edited by Sebastian Sinclair

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May 23, 2025 0 comments

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Democrats propose crypto ban for politicians, protest outside Trump’s memecoin gala

by admin May 23, 2025

Just hours before President Donald Trump’s high-profile gala for holders of his memecoin, Democratic lawmakers moved to curb what they call rising “crypto corruption” in Washington.

Led by Rep. Maxine Waters, 15 House Democrats introduced the “Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025.”

The bill would prohibit the president, vice president, members of Congress, and their immediate families from owning, promoting, or profiting from digital assets while in office.

Lawmakers would also be barred from holding crypto assets in ways that allow them to exert unilateral control over the tokens.

“Trump’s crypto con is not just a scam to target investors,” Waters said in a statement. “It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”

The legislation arrives amid a wave of criticism surrounding Trump’s deepening ties to crypto. The president and his wife, Melania, recently launched personal memecoins.

Trump’s family has also backed a stablecoin through the crypto firm World Liberty Financial, and his sons are linked to a Bitcoin mining venture.

Blockchain records indicate that Justin Sun, founder of Tron and a Chinese national, is one of the largest holders of TRUMP (TRUMP) — the memecoin that serves as a ticket to Thursday night’s dinner.

Protests outside the gala

The exclusive gala, hosted at Trump’s golf club in Virginia, invites the top 220 $TRUMP holders — some of whom spent between $55,000 and nearly $38 million in tokens to secure an invitation.

Critics, including Sen. Richard Blumenthal, accuse Trump of “auctioning” access to the White House and potentially violating the Constitution’s ban on foreign gifts.

Protests are happening outside the event. Senators Chris Murphy, Elizabeth Warren, and Jeff Merkley, along with Rep. Sam Liccardo and advocacy groups, are calling out Donald Trump’s upcoming “meme coin” fundraising dinner as a threat to national security and a potential corruption risk, according to a note shared with crypto.news.

At a press conference today, the group demanded the release of attendee names and any promised favors. Murphy also promoted his recently introduced MEME Act, aimed at curbing digital asset profiteering by public officials.

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May 23, 2025 0 comments

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XRP Traders Remain Overwhelmingly Long on Binance

by admin May 22, 2025

XRP traders remain bullish
XRP active addresses show steady activity

XRP traders on Binance appear to be bullish as long positions have surpassed shorts over the last few days. The latest Coinglass chart for the XRP/USDT perpetual market indicates that longs continue to dominate—an indication that most traders expect a rise in XRP price in the coming days.

XRP traders remain bullish

A comparison of the long and short positions on the chart shows that the longs (green bars) make up over 70% of total positions during the observed period. Shorts (red bars) have barely gained any significant momentum.

However, XRP sentiment hasn’t been entirely stable, as the line graph displays sharp dips and rebounds. Around May 19, interest from longs dipped temporarily, with shorts gaining the upper hand before a quick recovery. During this period, the percentage of long accounts dropped closer to 50% before rebounding.

This shift reflects some uncertainty in the market, but the sharp return to a higher long ratio shows a strong underlying belief by traders that XRP price could recover and continue rising.

XRP active addresses show steady activity

Meanwhile, data from Glassnode shows that the number of active addresses on the XRP network has fluctuated noticeably over the past ten days. As of May 12, active addresses stood slightly above 38,000. However, a sharp decline followed, with the number dropping to about 33,000 by May 16.

On May 17, there was a sudden spike in activity, with active addresses rising to nearly 44,000—the highest level during this period. Twenty-four hours later, the number fell below 30,000 and remained in that range for the next three days. Then, on May 21, it rebounded to approximately 33,000.

Source: Glassnode

As of the latest CoinMarketCap update, XRP is trading at $2.41 after a 1.28% gain in the last 24 hours.

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May 22, 2025 0 comments

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XRP Ledger Welcomes Its First MiCA-Regulated Euro Stablecoin

by admin May 22, 2025

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Schuman Financial’s EURØP today became the first euro-denominated stablecoin that both satisfies the European Union’s new Markets in Crypto-Assets (MiCA) regime and lives natively on the XRP Ledger (XRPL).

Launched from Paris on 22 May, the milestone ties MiCA-grade legal certainty to a blockchain that has already settled more than 3.3 billion transactions during its 12-year lifespan. “EURØP on the XRPL combines the resilience of a global blockchain with euro-native liquidity and compliance at its core. This will give Europe and euro-denominated financial markets an integral infrastructure for the next wave of financial innovation, which is happening on-chain,” said Martin Bruncko, Schuman Financial’s founder and CEO, in the announcement.

XRP Ledger And Why MiCA Status Matters

MiCA’s stablecoin provisions—covering e-money tokens (EMT) such as EURØP—took effect on 30 June 2024. They require full 1:1 fiat backing, daily redeemability, bankruptcy-remote reserves and authorisation by an EU regulator. The French ACPR has licensed Schuman Financial as an EMT issuer, while KPMG audits its reserve assets held at Société Générale and other top-tier banks.

Only a handful of issuers have so far cleared MiCA’s bar: Circle’s USDC and EURC, Société Générale’s EURCV, and a dozen niche projects. But EURØP is the first to bring that regulatory pedigree to XRPL, whose native DEX, fast finality and low fees historically attracted IOU-based fiat tokens yet lacked a MiCA-compliant euro coin.

Euro stablecoins represent barely 0.15 % of the $232 billion global stablecoin float—roughly $338 million as of end-April 2025—yet they have become a strategic priority for European banks and fintechs now that MiCA offers a passportable legal framework.

For payment firms and corporate treasurers, EURØP offers a programmable settlement asset that can move in three to five seconds at fractions of a cent while retaining full EU regulatory coverage. Schuman Financial says the token will underpin DeFi lending pools, automated foreign-exchange corridors, and on-chain euro legs for tokenized real-world-asset (RWA) trades—use cases that MiCA expressly contemplates once issuers file a “significant” EMT designation with the European Banking Authority.

Cassie Craddock, Ripple’s Managing Director for UK & Europe, framed the launch as validation of ledger’s enterprise strategy: “The launch of EURØP on the XRP Ledger demonstrates how stablecoins can meet the high standards set by MiCA while unlocking new possibilities for on-chain payments and RWA tokenization.

At press time, XRP traded at $2.43.

XRP bounces from the 20-day EMA, 1-day chart | Source: XRPUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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May 22, 2025 0 comments