Verify what backs a stablecoin
DIA Value computes intrinsic fair value for stablecoins from reserves and on-chain data, so backing and peg health can be verified.
Supply
1.9% of EUR stablecoin supply · 5th of 16 EUR stablecoins with supply
Peg today
below 1 EUR
Chains
3rd of 15 EUR stablecoins read on chain · median 4
Holders on Ethereum
9th of 10 EUR stablecoins scanned on Ethereum
Share of supply in lending
at least · EUR median 19.4%
Best yield
ranked by lower of 30d and spot APY × deposits · Kamino Lend · 1.62% base, 0% rewards · 30-day avg 0.35%
EUROP is a EUR stablecoin issued by Schuman Financial, launched on 22 Nov 2024.
EURØP, ticker EUROP, is a euro-denominated stablecoin issued by Schuman Financial, the trading name of Salvus SAS. Salvus SAS is an electronic money institution licensed by France's ACPR, with authorisation extending across the EU and EEA, and is a subsidiary of Schuman Financial AG in Switzerland.
The token is MiCA-compliant and redeemable one to one for euros. The issuer positions EURØP for payments, FX conversion, DeFi lending and borrowing through third-party protocols, and as a safe haven when digital assets are volatile. It is available to buy through exchanges including Kraken, Bitvavo and Bit2Me.
Sources: Schuman Financial: About EURØP, Schuman Financial: EURØP White Paper, Schuman Financial: Products
14.0M EUROP in circulation across 6 chains; Ethereum carries 54.7%. That is 1.9% of the EUR stablecoin supply on the map, 5th largest of 16.
All EUR stablecoins, 30d: the change in DeFiLlama circulating supply summed over the 16 EUR stablecoins with a reading at both ends of the window. Wrappers and rebasing stablecoins are left out. It is DeFiLlama’s figure, not a DIA read.
Source: DIA first-party onchain reads, the series the chart draws. Each figure is the change in the supply DIA reads across EUROP’s chains between two daily snapshots. Not mints minus redeems: DIA does not publish issuance flow.
Share and rank are against the combined supply of the 16 active EUR stablecoins on the map, each valued at DIA’s own read and price where DIA holds one and at DeFiLlama’s circulating figure otherwise. Wrappers are left out, as in every total on the map.
14.0M EUROP (US$15.6M)
1.9% of all EUR stablecoin supply, #5 of 16
Ethereum 54.7% · other chains 45.3%
Ethereum7.6M EUROP · 54.7%
Solana4.7M EUROP · 33.8%
Avalanche548.8K EUROP · 3.9%
Polygon463.9K EUROP · 3.3%
XRPL338.3K EUROP · 2.4%
Plasma250.0K EUROP · 1.8%Supply growth
Counted on Ethereum. Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Ethereum less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
Source: Blockscout.
242holders on Ethereum
9th of 10 EUR stablecoins on Ethereum
Excludes protocol and bridge contracts and issuer treasuries. Shares are of the supply on Ethereum less issuer treasuries and burn addresses. Protocol and bridge contracts stay in that supply but are not counted among the largest holders.
How far EUROP trades from its EUR peg, from DIA's daily price reads.
Figures are in basis points: 100 bps = 1%.
Peg volatility is how much EUROP's price swings around 1 EUR from one day to the next: the standard deviation over 30 or 90 days. A stablecoin that sits steadily at 0.998 EUR scores near zero. Largest deviation is the single day in the last 12 months furthest from 1 EUR, signed.
The ranking counts every active EUR stablecoin with at least two daily prices in the last 90 days.
Prices are daily closes at 00:00 UTC, from DeFiLlama with CoinGecko where DeFiLlama has no price. The chart beside this panel plots those same daily closes, so every figure in the table can be found on a line here. DeFiLlama quoted rounded and filled prices until 30 September 2025, so for USDT and USDC the closes before 1 October 2025 are the median of exchange closes instead, and a filled US$1.0000 close is left out of the typical move and the largest move.
Stablecoins whose value rises by design, such as savings wrappers, are left out. Their price is a yield curve, not a peg.
Only USD stablecoins are compared. Other currencies are priced through a daily exchange rate fixed at a different time of day from the stablecoin's close. That gap shows up as the same false depeg on every stablecoin of the currency at once.
For a EUR stablecoin, the largest deviation leaves out days when most other EUR stablecoins closed the same distance from par on the same side: that move is the exchange rate, not EUROP. A move EUROP makes alone, or a discount it holds while the others stay at par, is kept.
19 bps
Peg volatility, 90 days
typical day-to-day swing around 1 EUR
Leaves out 21 days when most other EUR stablecoins moved the same way. The EUR exchange rate is taken at a different time from the close, so a move shared by the whole currency is timing, not a depeg. The chart still shows those days.
| Stablecoin | Today | 30d | 90d | Largest |
|---|---|---|---|---|
| −9 bps (−0.09%) | 29 bps | 19 bps | −245 bps (−2.45%) |
EURØP is redeemable one to one for euros, and the issuer operates the token around the clock, 365 days a year, so settlement can happen outside normal banking hours.
The issuer describes the 2% reserve fund as a buffer on top of the 1:1 backing, and describes KPMG's quarterly attestations as independent confirmation of the parity between all issued EURØP and the corresponding reserves.
Sources: Schuman Financial: About EURØP, Schuman Financial: Reserve attestations
US$4.5M of EUROP is supplied to 5 lending markets on 2 protocols, 28.7% of its onchain supply. The median across the 6 EUR stablecoins in lending markets is 19.4%.
At least this much EUROP is supplied to lending markets DIA reads onchain, where it can be borrowed. The figure is gross: most of it is on loan, and a borrower can deposit borrowed EUROP again, so the same money can count more than once. Coins posted only as isolated collateral (Morpho-style) are not counted. Excludes DEX liquidity, CDP collateral, and chains or protocols DIA does not yet track.
Source: DIA's own reads of each lending contract. Balances, supply and borrow rates and utilisation all come from the same read. A market not refreshed in the last 3 days, holding under US$1,000 of EUROP, or pinned at full utilisation with runaway interest is left out.
Token balances are converted to USD at DIA's own price for EUROP.
Both figures are averages across markets, weighted by how much EUROP each market holds. A US$1B market counts a thousand times more than a US$1M one. Markets holding 100% of the balance report an APY.
Ranks and the median compare EUROP with the 6 EUR stablecoins that have a published lending balance on this map, each measured the same way. Coins with no balance in a market DIA reads are not in the median.
US$4.5M28.7% of supply
supplied to 5 lending markets on 2 protocols
Median across 6 EUR stablecoins in lending markets: 19.4%
75%
Borrowed
share of supplied EUROP now on loan
1.61%
Average supply APY
weighted by EUROP balance in each market
By protocol
99.8%US$4.5MSolanaEUROPUS$4.5M1.62%75%
<1%US$11KEthereumEUROP / cbBTCUS$3K<0.01%<1%EthereumEUROP / wstETHUS$3K<0.01%<1%EthereumEUROP / WBTCUS$3K<0.01%<1%EthereumEUROP / weETHUS$3K0.03%14%EUROP in lending markets, by chain, largest first. The bar is each chain's share of EUROP's lending balance.
Solanain 1 lending market99.8%US$4.5MEthereumin 4 lending markets<1%US$11KAmong 6 EUR stablecoins in lending markets
Top 5 EUROP pools by TVL with a quoted APY.
TVL is what is deposited in the pool. For lending pools, that is before loans are taken out.
| APY | Composition | 30d avg | Quality | Protocol | Chain | Rewards | ▼TVL | Type |
|---|---|---|---|---|---|---|---|---|
1.62% | 0.20% | OrganicVolatile | Solana | +0.00% | US$4.5M | Lending | ||
1.62% | 0.35% | OrganicVolatile | Solana | +0.00% | US$4.5M | Lending | ||
5.67% | 0.36% | LP fees · IL riskVolatile | Solana | +0.00% | US$1.2M | LP | ||
0.03% | 0.93% | LP fees · IL riskVolatile | Ethereum | +0.00% | US$112.1K | LP | ||
7.47% | 10.35% | LP fees · IL riskStable | Solana | +0.00% | US$22.7K | LP |
Source: DeFiLlama, DexScreener and on-chain balances, updated 1 Nov 2026.
EUROP in pool is EUROP's own side of the pool, at its USD price. Pool liquidity counts both sides.
US$754.5K of EUROP sits in 2 DEX pools across 1 DEX.
| DEX | Pair | Chain | Pool liquidity | ▼EUROP in pool | 24h volume |
|---|---|---|---|---|---|
| EUROP / USDC | Solana | US$1.2M | US$740.7K | US$23.1K | |
| EURC / EUROP | Solana | US$22.7K | US$13.9K | US$13.5K |
Schuman Financial lists payments, FX conversion, DeFi, lending and borrowing among EURØP's use cases, and notes that the DeFi protocols are operated by third parties. The issuer describes the token as a safe haven during market volatility.
EURØP is available to buy on exchanges including Kraken, Bitvavo, Bit2Me and Bitpanda, and through N26 and SwissBorg. The issuer states the token is accessible to individuals and institutions worldwide through its partners.
The token is deployed on Ethereum, Polygon, Avalanche and the XRP Ledger, among other chains, giving it a presence beyond the main EVM networks.
Sources: Schuman Financial: About EURØP, Schuman Financial: Products, Schuman Financial: EURØP White Paper, Schuman Financial: Smart Contracts
EUROP is designed to be backed by cash and money-market assets.
Every EURØP is fully backed by euros. The issuer states that reserves are held at regulated EU banks such as Société Générale, and that customer funds are kept separate from Schuman's operational accounts as required by EU rules.
On top of the one to one backing, the issuer maintains an additional 2% reserve fund, so the stated reserves exceed the value of tokens in circulation.
KPMG, the statutory auditor of the issuing entity, performs quarterly attestations of parity. The attested items are the 100% euro backing, the holding of reserves at regulated European financial institutions including Société Générale, and the separation of customer funds from the operational accounts.
Sources: Schuman Financial: About EURØP, Schuman Financial: Reserve attestations
Ethereum0x8835a2f6…75e2e16cblacklist(address), unBlacklist(address) +2paused()mint(address,uint256)eip1967-uups0x888883b5…fb0e5e51blacklist(address), unBlacklist(address) +2paused()mint(address,uint256)eip1967-uups0x98658bd7…4e947e6ablacklist(address), unBlacklist(address) +2paused()mint(address,uint256)eip1967-uups0x888883b5…fb0e5e51blacklist(address), unBlacklist(address) +2paused()mint(address,uint256)eip1967-uupseuro5sNHrZ…oWf4MftAfreezeAuthoritymintAuthorityContract controls are not read on XRPL yet.
Read from the deployed contract and its account on each chain. A control with no row is one the read could not settle, which is not the same as absent. “No” appears only where the verified contract source lists every function, or where the chain records that the control cannot exist, such as a package published as immutable.
Contract can freeze · pause · mint · upgrade (proxy)
Independent reserve attestations are published quarterly.
EURØP is issued by a licensed electronic money institution. Salvus SAS, trading as Schuman Financial, is regulated by the ACPR under the Banque de France, with authorisation extending across the EU and EEA.
The issuer states that EURØP strictly follows European regulations including MiCA and AML standards. MiCA governs e-money token issuance across the EU, and the ACPR is the competent authority for this issuer. The issuing company is a French entity, Salvus SAS, owned by Schuman Financial AG in Switzerland.
Sources: Schuman Financial: About EURØP, Schuman Financial: Reserve attestations
EURØP depends on a central issuer and on the credit standing of the banks where its reserves sit, including Société Générale. The issuer states that reserves are held in cash and cash equivalents at European financial institutions, so the safety of the backing tracks those counterparties.
KPMG, as statutory auditor, reports on the parity between issued EURØP and the reserves, so the quality of the disclosure depends on what each attestation actually examined and published.
As a MiCA-regulated token, EURØP's operation is tied to its regulatory standing and to the issuer's compliance process, including the anti-money-laundering checks that accompany issuance and redemption.
Sources: Schuman Financial: About EURØP, Schuman Financial: Reserve attestations, Schuman Financial: EURØP White Paper, Schuman Financial: Home
EURØP is issued by Schuman Financial, the trading name of Salvus SAS, an electronic money institution licensed by France's ACPR with authorisation across the EU and EEA. Salvus SAS is a subsidiary of Schuman Financial AG, Switzerland.
Every EURØP is 100% backed by euros held at regulated EU banks such as Société Générale, plus a 2% reserve fund. KPMG, the statutory auditor of the issuing entity, performs quarterly attestations of the parity between issued EURØP and the corresponding reserves.
Yes. The issuer states that EURØP strictly follows European regulations including MiCA and AML standards.
56 days are left blank: chain coverage changed or a contract read failed, so those totals are not comparable.
Source: DIA onchain reads Updated
Source: DIA rebuild from onchain transfer history (to 11 Aug 2026), Block explorer holder counts (from 12 Aug 2026), Ethereum Updated
Daily close against the EUR peg, in basis points. Drag the handles under the chart to zoom; a range button resets it.
The dotted vertical lines mark market stress events: days the whole market, or a stablecoin others hold as collateral, came under stress. Seeing every stablecoin on the same shock shows how each peg held. Only events with a published source are marked. Each entry under the chart shows every stablecoin's worst daily close within 3 days of the event.
Crypto sold off with global markets as Covid spread, ETH lost close to half its price, and a congested Ethereum let bidders win MakerDAO collateral auctions for zero DAI.
Bitcoin fell as much as 30% to about $30,000 after Chinese industry bodies warned banks off crypto, and more than $8 billion of positions were liquidated.
Terra's algorithmic stablecoin UST fell to about $0.65 as LUNA slid, the start of a run that wiped out both within days.
Tether's USDT fell to about 95 cents on some exchanges as UST collapsed, and recovered after Tether processed more than $3 billion of redemptions.
Crypto lender Celsius paused withdrawals citing extreme market conditions, as the discount of stETH to ETH reached a record 8%.
FTX halted customer withdrawals after about $6 billion left the exchange in 72 hours, and filed for bankruptcy days later.
Circle disclosed $3.3 billion of USDC reserves held at the failed Silicon Valley Bank, and USDC traded as low as $0.87 intraday, closed 11 March near $0.96 (the low a daily-close chart shows) and regained its peg on 13 March.
A reentrancy bug in old Vyper compiler versions let attackers drain over $70 million from Curve pools run by JPEG'd, Metronome and Alchemix.
A Bank of Japan rate rise set off an unwind of yen carry trades, and bitcoin fell to about $49,000 as crypto futures saw over $1 billion of liquidations.
North Korea's Lazarus Group took about $1.5 billion of ETH and stETH from Bybit's cold wallet, and the exchange saw over $4 billion of withdrawals.
Sweeping US tariffs on trading partners set off a global selloff, and bitcoin fell to about $74,500.
A 100% US tariff threat on Chinese imports set off the largest liquidation in crypto history, over $19 billion in a day, and USDe traded as low as $0.65 on Binance.
An attacker drained about $128 million from Balancer V2 pools on six chains through a rounding error in the pool maths.
Stream Finance disclosed a $93 million loss by an external fund manager and froze withdrawals, and its xUSD fell as low as $0.25.
Stables Labs' synthetic dollar USDX fell below $0.60 as redemptions ran ahead of its hedged positions, and lending markets that took it as collateral froze.
Bitcoin fell below $80,000 over a thin-liquidity weekend amid US and Iran tensions, liquidating about $2.5 billion of long positions in a day.
Bitcoin dropped more than 10% in a day to about $63,000, its worst one-day fall since the FTX collapse, as silver, software stocks and US indexes fell with it.
An attacker with a compromised minting key created about 80 million unbacked USR and sold them for roughly $25 million, and USR fell below $0.30.
A forged LayerZero message released 116,500 unbacked rsETH, about $292 million, and Aave, Spark and Fluid froze rsETH markets.
An attacker took over StablR's 1-of-3 minting multisig and minted about $13.5 million of unbacked USDR and EURR, and the issuer froze both coins.
Bitcoin slid below $62,000 on higher-for-longer rate bets and ETF outflows, and about $3 billion of leveraged positions were liquidated over two days.
Source: DeFiLlama and CoinGecko prices Updated