Stablecoin

Ethereum

Giant

Canton

<h2 id="caceis-brings-institutional-euro-stablecoin-to-ethereum">CACEIS Brings Institutional Euro Stablecoin to Ethereum</h2>
<p><cite>Crédit Agricole, Europe's third-largest bank by assets, has launched the EURO eXchange Token (EURXT), a euro-backed stablecoin issued through its asset-servicing arm, Crédit Agricole Caisse d'Epargne Investor Services (CACEIS).</cite><cite>The token is designed for institutional and corporate clients as part of the group's broader push into tokenized financial infrastructure.</cite></p>
<p><cite>Compliant with the EU's Markets in Crypto-Assets (MiCA) regulatory guidelines, EURXT launched with an initial circulating supply of 20.02 million tokens on Ethereum using the ERC-20 standard, backed 1:1 by euro-denominated cash held on CACEIS Bank's balance sheet.</cite><cite>According to the project's white paper, there is no hard cap on EURXT issuance, meaning the supply can expand based on demand through its smart contract system.</cite></p>
<p><cite>One notable feature is that this is a bank-issued EMT, where the CACEIS balance sheet backs the token, with plans to segregate reserves internally, including CACEIS cash and up to 70% in highly liquid securities.</cite> The minimum subscription amount is set at €10,000, keeping the product firmly within institutional territory for now. <cite>The token will initially be made available to institutional and corporate clients of CACEIS, though the project's website indicates plans to support retail investors in the future.</cite></p>
<h2 id="first-use-case-and-broader-market-context">First Use Case and Broader Market Context</h2>
<p><cite>Alongside the EURXT launch, Crédit Agricole announced the first subscription via EURXT into a tokenised Amundi money market fund, described as a European first.</cite><cite>The token forms part of the group's ACT 2028 strategy, which includes the development of blockchain-based settlement and asset servicing tools.</cite></p>
<p><cite>The launch comes a year after CACEIS secured a MiCA crypto-asset service provider (CASP) license from French regulators in June 2025.</cite><cite>The launch of EURXT adds to a wave of fresh stablecoin launches both in Europe and globally as traditional finance and crypto-native companies compete to issue regulated digital euros and dollars.</cite><cite>HSBC and BNP Paribas, Europe's top two banks by assets, last September joined the Canton Foundation to accelerate tokenization of institutional real-world assets,</cite> while a separate consortium of major European lenders including ING, UniCredit, and BNP Paribas is also preparing a competing MiCA-compliant euro stablecoin under the Qivalis venture.</p>
<p>For Crédit Agricole, the EURXT debut represents a concrete step beyond regulatory preparation. With a fully operational EMT on a public blockchain, the bank is positioning CACEIS as a gateway for institutional capital flows into tokenized markets under Europe's mature MiCA framework.</p>
<p><strong>Sources</strong><br><a href="https://cointelegraph.com/news/credit-agricole-eurxt-euro-stablecoin-caceis" rel="noopener noreferrer nofollow">Cointelegraph: Crédit Agricole Launches EURXT Stablecoin On Ethereum</a><br><a href="https://www.ledgerinsights.com/credit-agricole-launches-euro-stablecoin-via-caceis/" rel="noopener noreferrer nofollow">Ledger Insights: Crédit Agricole launches euro stablecoin via CACEIS</a><br><a href="https://www.caceis.com/" rel="noopener noreferrer nofollow">CACEIS Official Announcement</a></p>

French Banking Giant Launches MiCA-Compliant Stablecoin On Ethereum

Table of Contents

BSCN

Other articles published on Jul 1, 2026

Join our free newsletter for daily crypto updates!