French banking giant Crédit Agricole rolls out euro stablecoin, EURXT

CoinDesk·

French banking giant Crédit Agricole rolls out euro stablecoin, EURXT

60-second summary

Crédit Agricole is launching the euro stablecoin EURXT with 20 million tokens in circulation, backed 1:1 by euro reserves at Caceis Bank. EURXT competes with Circle's EURC and SocGen's EURCV, expanding the euro stablecoin market. This move could increase adoption and liquidity, benefiting financial institutions and consumers alike, as stablecoins gain traction in global transactions and payments.

EURXT debuted with 20 million tokens in circulation, backed 1:1 by euro reserves at Caceis Bank, and competes with Circle's EURC and SocGen's EURCV.