The company submitted its whitepaper to Cypriot regulators in late June, establishing the foundation for an instrument designed to bridge traditional open banking with digital currency. XREUR allows consumers and businesses to facilitate transfers through the Paidby Mastercard network, T2 real-time gross settlement, and SEPA Instant systems. By integrating these existing financial rails, the issuer aims to enable immediate cross-border payments with redemption capabilities across more than 60 countries.

Group CEO Nikogiannis Karantzis described the token as an on-demand payment instrument rather than a traditional speculative asset. The reserves backing the token are held at Credit Step 1 EU banks, with the company promising externally audited, real-time transparency. While the issuance operates under MiCAR compliance, the firm clarified that the token falls outside standard investor compensation and deposit guarantee schemes. This launch follows Xryma’s recent move to list on Euronext Paris, signaling a broader push to integrate its electronic money services into European capital markets.