Crédit Agricole unveils EURXT euro stablecoin on Ethereum

Crédit Agricole launches EURXT, a MiCA-compliant, euro-backed stablecoin on Ethereum for institutional clients, debuting with 20M tokens and first used to settle a tokenized fund subscription.

Crédit Agricole has introduced the EURO eXchange Token (EURXT), a euro-backed stablecoin issued via its asset servicing arm, CACEIS, on the Ethereum blockchain. EURXT is fully compliant with the EU’s Markets in Crypto-Assets (MiCA) regulation and is backed 1:1 by euro reserves held at CACEIS Bank. The stablecoin launched with an initial supply of approximately 20 million tokens and is currently available to institutional investors and corporate clients. Its first real-world use was settling a subscription into a tokenized Amundi Money Market Fund. This move is part of Crédit Agricole’s broader strategy to expand into tokenized finance and digital asset services, aiming to reinforce the euro’s role in digital finance. EURXT joins a growing market of euro stablecoins, including SocGen’s EURCV and Circle’s EURC, as more European banks prepare to launch similar tokens.