Crédit Agricole SA, one of France’s largest banking groups, on Wednesday unveiled its euro-backed stablecoin, EURXT, alongside the first settlement of a European tokenized money market fund subscription using a euro stablecoin.
The transaction, completed with an Amundi tokenized Luxembourg UCITS money market fund, represents a major step toward integrating blockchain-based settlement into traditional institutional finance.
EURXT is issued by CACEIS Bank, the asset servicing arm of the Crédit Agricole Group, and designed as an on-chain settlement asset for tokenized finance. The token is fully compliant with the EU’s MiCA digital asset regulation and is backed 1:1 by euro reserves, with each token redeemable at par value.
Initially targeted at institutional investors and corporate clients, the stablecoin is designed to provide a secure and regulated payment mechanism for tokenized assets and on-chain financial transactions.
The launch advances Crédit Agricole’s ACT 2028 strategic plan, which prioritizes the development of tokenized financial services.
