Why Ripple quietly deleted its euro stablecoin post (and what it could mean for XRP)

Something unusual is happening around Ripple’s European strategy – and it’s flying under most people’s radar. Between new EU licenses, a rapidly growing euro stablecoin market, and a quietly deleted Ripple post about a 37‑bank consortium, there are strong signs that a much bigger move could be taking shape for the XRP Ledger.

Europe is quietly racing ahead on digital assets

While the U.S. continues to wrestle with unclear regulation, Europe has been steadily building a clear framework for digital assets. The European Union’s MiCA (Markets in Crypto-Assets) rules are now in force, giving banks and institutions a solid legal base to work with crypto, tokenization, and stablecoins.

Ripple has positioned itself right in the middle of this shift. Its managing director for the UK and Europe has been meeting with major players like Société Générale, BBVA, and regional regulators including ESMA, the European Commission, and the UK’s FCA. These aren’t casual conversations – they’re focused on tokenization, digital asset custody, and how banks can safely offer crypto services to their clients.

On top of that, Ripple has secured key licenses in both the UK and the EU, including a full crypto asset service provider authorization in Europe. That license allows Ripple to offer regulated crypto payment products across all 30 countries in the European Economic Area.

MiCA is transforming the euro stablecoin market

Many retail investors still dismiss stablecoins as boring, but in Europe they’re becoming one of the most important building blocks for on-chain finance. MiCA has effectively drawn a line between compliant and non-compliant stablecoins, and the market is reacting fast.

Compliant euro stablecoins have exploded from around €50 million to the mid‑hundreds of millions in supply, with some data pointing to roughly 14x growth to around €750 million. At the same time, non‑compliant euro stablecoins have shrunk from the vast majority of the market to a tiny fraction of the total supply.

Two names dominate this new landscape: Circle’s euro stablecoin (EURC) and Société Générale’s EURV, which together account for a large majority of the euro stablecoin market. Importantly, EURV is issued on the XRP Ledger – a clear sign that institutional euro liquidity is already starting to move onto XRPL.

Why Ripple’s European custody push matters

Regulation is only one piece of the puzzle. For banks, the bigger challenge is how to safely hold and manage digital assets for their customers. That’s where Ripple’s institutional custody offering comes in.

Ripple has been onboarding major European banks like BBVA and DZ Bank to its custody platform. The goal is simple: give traditional banks a way to integrate digital assets into their existing systems without having to build everything from scratch.

Ripple’s custody stack is designed to plug into core banking and back‑office systems through an API‑first architecture. It focuses heavily on governance and controls – things like policy‑as‑code, segregation of duties, approval workflows, and jurisdictional rules for every on‑chain and off‑chain action. For regulated banks, those details are critical.

The 37‑bank consortium and the deleted Ripple post

This is where things get interesting. Ripple recently published – and then deleted – a post highlighting a consortium called Caviis (sometimes spelled similarly in community discussions), described as a group of 37 European banks authorized by the Dutch central bank.

According to the deleted content, this consortium is working on a shared euro stablecoin for use within a regulated banking environment. The post suggested that while issuance is important, it’s only half the story: each bank still needs custody, governance, and control frameworks to actually hold and use the asset on behalf of clients.

Ripple’s message was clear: members like BBVA and DZ Bank are already using Ripple’s custody platform, and that infrastructure is built specifically to support scenarios like a shared euro stablecoin. The article framed Ripple custody as part of an end‑to‑end stack covering issuance, custody, governance, settlement, and redemption – all backed by Ripple’s regulatory footprint in Europe.

Then the post disappeared.

We don’t know why Ripple removed it. It could be timing, legal review, or simple messaging changes. But combined with everything else Ripple is doing in Europe, it looks less like a random marketing tweak and more like an early glimpse at a larger strategy that isn’t ready to be fully public yet.

Is Ripple preparing RL Euro?

The big speculation now centers on a potential Ripple‑issued euro stablecoin often referred to by the community as “RL Euro” – in the same family as Ripple’s announced RLUSD (Ripple USD). There are a few reasons this theory won’t go away:

• Ripple has already confirmed RLUSD and openly discussed the possibility of other fiat stablecoins like euro and yen.

• The deleted post focused heavily on a shared euro stablecoin for 37 banks, running in a regulated environment, with Ripple providing the infrastructure.

• Links and references labeled “RLEUR” or similar have reportedly pointed back to Ripple’s own stablecoin pages.

If Ripple does launch a euro stablecoin on the XRP Ledger – especially one tied into a consortium of dozens of European banks – it would be a major step toward making XRPL a core piece of Europe’s on‑chain financial plumbing.

How RLUSD fits into Ripple’s bigger plan

To understand why a euro stablecoin would be such a big deal, it helps to look at RLUSD first. Ripple has already said it will use its own USD stablecoin inside its products, particularly for institutional clients. That’s not a sudden pivot – Ripple has been using third‑party stablecoins like USDT and USDC in certain payment corridors for years whenever they were more efficient than direct XRP flows.

At one point, Ripple was even responsible for minting a significant share of all USDC in circulation. Over time, it became obvious that there was room for a Ripple‑branded stablecoin tailored to institutional needs and directly integrated with Ripple’s payment stack.

Ripple’s CEO has also pointed to forecasts that the stablecoin market could grow from under $200 billion today to a couple of trillion dollars within five years. If that happens, the opportunity isn’t just in USD – it’s in other major currencies like EUR and JPY as well.

In that context, RLUSD looks like the first piece of a broader Ripple stablecoin family, not a one‑off product.

Will Ripple stablecoins replace XRP?

One of the most common fears in the XRP community is that Ripple’s stablecoins could “replace” XRP. The evidence from Ripple’s own messaging points in the opposite direction.

Ripple’s stated goal is to make the XRP Ledger the most efficient, trusted, and useful network it can be. To do that, it needs both volatile assets like XRP and non‑volatile assets like fiat‑backed stablecoins. XRP’s strength is as a neutral, highly liquid bridge asset for FX and cross‑border payments. Stablecoins bring price stability for users and institutions who don’t want exposure to volatility.

If Ripple launches RLUSD, RLEUR, or even a yen‑backed stablecoin, those assets don’t make XRP obsolete – they create more corridors and more reasons to route value through XRPL. In a world where a bank‑issued or consortium‑issued euro stablecoin lives on XRPL, XRP can still sit in the middle as a bridge between multiple fiat assets, especially in high‑volume FX flows.

For a deeper dive into this dynamic, it’s worth looking at how regulation and Ripple’s stablecoin plans could open new doors for XRP in both the EU and the US in this analysis of EU and US regulations and RLUSD.

XRPL is already home to multiple euro stablecoins

Even without a Ripple‑branded euro token, the XRP Ledger is quietly becoming a hub for euro liquidity. There are already at least three euro‑based stablecoins live on XRPL:

• A MiCA‑compliant euro stablecoin issued by Gatehub.

• A MiCA‑compliant euro stablecoin from Shuman Financial.

• Société Générale’s EURV stablecoin, which is issued on the XRP Ledger.

This matters because it shows that regulated euro issuers are already comfortable using XRPL as settlement infrastructure. If a 37‑bank consortium launches a shared euro stablecoin – and especially if Ripple provides the custody and governance rails – it could accelerate that trend dramatically.

Digital Pound Foundation and hints of more fiat tokens

The euro isn’t the only currency on the table. When Ripple announced RLUSD, the Digital Pound Foundation – a major UK‑focused organization exploring digital money – publicly remarked that “RLGBP has a nice ring to it.” It might just be a playful comment, but it lines up with Ripple’s broader narrative: multiple fiat‑backed stablecoins, all running on XRPL, all aimed at institutional payments and tokenization.

Community speculation has also circled around potential yen‑backed tokens (often dubbed RLJPY in discussions), which would fit neatly into the same pattern: a multi‑currency network where XRP can bridge between fiat assets across regions.

What this could mean for XRP holders

If even part of this picture plays out – MiCA‑driven euro adoption, a 37‑bank consortium stablecoin, Ripple custody at the core, and an eventual RLEUR – the implications for XRP and XRPL are significant:

• More on‑chain liquidity: Every new regulated stablecoin on XRPL increases the depth of markets and the number of trading pairs.

• Stronger institutional rails: Banks and corporates using Ripple’s custody and payment stack are more likely to route value across XRPL.

• Greater role for XRP as a bridge: With multiple fiat tokens on the same ledger, XRP’s role as a neutral intermediary in FX flows becomes more practical, not less.

• Shift in narrative: Instead of debating whether XRP is “going to zero,” the conversation increasingly focuses on real‑world adoption, regulation, and infrastructure – a theme we’ve explored before in our look at whether the market is missing something big with XRP.

So why did Ripple delete the post?

We don’t have a definitive answer, and Ripple hasn’t publicly explained the removal. Possible reasons include:

• Legal or regulatory review around how much could be said about the 37‑bank consortium.

• Timing issues, if the consortium or a related product isn’t ready for full public launch.

• Messaging changes, especially if Ripple plans a coordinated announcement around new stablecoins or banking partners.

What we do know is that the deleted content fits neatly into a pattern: MiCA compliance, rapid euro stablecoin growth, Ripple’s licenses in Europe, institutional custody for major banks, early euro stablecoins on XRPL, and Ripple’s public hints about expanding its RL stablecoin line beyond RLUSD.

The bottom line

Europe is becoming one of the most important battlegrounds for regulated digital assets, and Ripple is clearly positioning itself at the center of that shift. A mysteriously deleted post about a 37‑bank consortium and a shared euro stablecoin may be more than just a marketing edit – it could be an early sign of a much larger plan involving RL‑branded stablecoins and deeper XRP Ledger integration into Europe’s banking system.

Until Ripple makes its next move public, all we can do is connect the dots. But those dots – MiCA, bank partnerships, custody, existing euro stablecoins, and RLUSD – all point in the same direction: more institutional adoption on XRPL, and a bigger, not smaller, role for XRP in the future of cross‑border payments.