Crédit Agricole has expanded its presence in the digital asset sector by introducing EURO eXchange Token (EURXT), a euro pegged stablecoin designed for institutional use. The launch highlights the growing adoption of blockchain technology among traditional financial institutions in Europe while reinforcing the region's push toward regulated digital finance under the MiCA framework.
New euro backed stablecoin enters the market Built on the Ethereum blockchain, EURXT is fully backed by euro cash reserves and issued by Caceis Bank, Crédit Agricole's asset servicing subsidiary. The stablecoin complies with the European Union's Markets in Crypto Assets (MiCA) regulation and is already being used in Amundi's tokenized money market funds. The initiative also forms part of Crédit Agricole's broader ACT 2028 strategic transformation plan.
Around 20 million EURXT tokens are currently in circulation, with every token backed one to one by euro reserves held by Caceis Bank. The participation of Amundi, which manages approximately €2.4 trillion in assets, is viewed as a significant milestone for institutional adoption. Through EURXT, Crédit Agricole aims to strengthen its position in the euro stablecoin market alongside competitors such as Société Générale and Circle while supporting the ongoing tokenization of Europe's financial system.
