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AI-synthesised from 3 sources · no editorial bias
Crédit Agricole, a major French banking institution, has officially launched a euro-pegged stablecoin named EURXT. This stablecoin debuted with an issuance of approximately 20 million tokens, which are fully backed on a 1:1 basis by euro reserves held at Caceis Bank. The launch of EURXT positions it to compete with other euro stablecoins such as Circle's EURC and Société Générale's EURCV.
The EURXT stablecoin targets institutional investors and aims to facilitate access to tokenized funds, enhancing liquidity in the financial market. Notably, Crédit Agricole has also subscribed to a tokenized money market fund (MMF) offered by Amundi as part of this initiative, which has been described as a pioneering move in the European market for cryptocurrencies and digital assets.
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