SwissBorg launches fee-free 1:1 euro–EURØP swaps via issuer

By Marcus Bennett

SwissBorg launched free 1:1 euro–EURØP swaps on November 10, 2026, according to the company, routing every conversion through Schuman Financial, the token’s issuer.

A SwissBorg user can now turn euros into EURØP and back again without paying a conversion fee. The nominal rate is fixed at exactly one euro for one EURØP.

Schuman Financial processes each transaction. SwissBorg routes the order to that issuer rather than matching users against a market order book. The company’s launch research expects conversions to finish within minutes. SwissBorg claims the arrangement is the first of its kind for EURØP.

What changes for SwissBorg users?

Zero fees and a fixed rate give users a clear conversion rate without a fluctuating quote. More importantly, SwissBorg now substitutes direct issuer routing for order-book matching, making Schuman Financial’s processing capacity part of the customer experience.

That is the practical difference. Users receive euros or EURØP through the issuer’s route, with an expected turnaround of minutes. SwissBorg remains the application in front. Schuman Financial operates behind it.

The arrangement also concentrates operational dependence on the issuer. For SwissBorg, that is a shift from market execution toward an issuer-operated conversion rail.

For the platform, the feature expands an existing listing into a two-way conversion product. Deposit, withdrawal and exchange functions already served EURØP holders. The new step adds a direct route between euros and the token.

The feature changes the execution route. The announcement does not describe a change to EURØP’s euro reference or reserve framework.

How is EURØP classified and backed?

EURØP is an electronic money token, or EMT, under the European Union’s Markets in Crypto-Assets framework, better known as MiCA. Under that framework, an EMT references a single official currency. EURØP is designed to stay pegged one-to-one to the euro.

The reserve structure rests on named financial institutions and a quarterly audit. Reserves are held at institutions including Société Générale, one of France’s major banks. The issuer also keeps an additional 2% in reserves on top of full backing. Those reserves face quarterly audits from KPMG.

EURØP runs on three blockchains:

• Ethereum
• Polygon
• Avalanche

That network footprint sits alongside the reserve structure rather than replacing it. The fee change is separate from both. SwissBorg sets the conversion route and rate; the issuer stands behind the token’s euro reference and backing.

How did EURØP enter SwissBorg’s product?

SwissBorg first brought EURØP onto its platform in December 2025. At that stage, users could deposit, withdraw and exchange the token.

By July 2026, SwissBorg had folded EURØP into its Smart Cash program. The loyalty scheme rewards users who hold EURØP with BORG tokens, SwissBorg’s native asset.

Smart Cash has no lock-ups. Users can earn rewards without committing their funds for a fixed period. That gives holders flexibility over how long they keep an EURØP position.

SwissBorg has also partnered with the Eurøpe Consortium, which supports wider adoption of EURØP among European investors and traders.

The zero-fee feature is the latest step in that product build-out. It adds a direct conversion route to deposit, withdrawal, exchange and rewards functions that SwissBorg already offers.

The next checkpoint is operational: whether issuer-routed swaps can sustain their expected minute-level turnaround as SwissBorg expands EURØP’s role in its platform.