Key facts
- Crédit Agricole's asset servicing arm, Caceis, has launched the EURO eXchange Token (EURXT).
- The EURXT is a euro-pegged stablecoin.
- The stablecoin has been launched on the Ethereum blockchain.
- EURXT is compliant with MiCA regulations.
- The stablecoin debuted with 20 million tokens.
- The tokens are backed by euro reserves.
- EURXT is targeting institutional investors.
Crédit Agricole's asset servicing arm, Caceis, has launched a new euro-pegged stablecoin named the EURO eXchange Token (EURXT) on the Ethereum network. The launch signifies a move by a major European banking group into the digital asset space, with a focus on regulatory compliance.
The EURXT stablecoin is designed to adhere to the Markets in Crypto-Assets (MiCA) regulations, indicating a proactive approach to navigating the evolving digital asset landscape in Europe. The token debuted with an initial supply of 20 million tokens. These tokens are fully backed by euro reserves held by Caceis, ensuring their stability and peg to the euro.