Key Highlights
- Crédit Agricole launches EURXT, a euro-denominated stablecoin for institutional and corporate clients.
- EURXT is MiCA-compliant and issued on Ethereum using the ERC-20 standard.
- First EURXT transaction settled a tokenised Amundi money market fund subscription.
Crédit Agricole S.A. has launched EURXT, a euro-denominated electronic money token (EMT) designed for institutional and corporate clients, as part of its broader push into tokenized financial infrastructure.
As per the official announcement, the token is issued through its securities servicing subsidiary CACEIS, and forms part of the group’s ACT 2028 strategy, which includes development of blockchain-based settlement and asset servicing tools.
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 and is backed 1:1 by euro-denominated cash held on CACEIS Bank’s balance sheet.
EURXT’s first on-chain settlement
The stablecoin has already been used in a live transaction involving a subscription to a tokenised money market fund managed by Amundi. The fund is domiciled in Luxembourg and structured as a UCITS-regulated product.
According to the announcement, this represents the first subscription to a tokenized UCITS money market fund in Europe settled using a euro-denominated stablecoin.
Olivier Gavalda, CEO of Crédit Agricole S.A., said the launch aligns with the bank’s strategy to support the gradual shift toward new settlement standards under European regulation. He added, “With EURXT, we are placing at their disposal a stable, secure payment instrument that complies with the latest European regulatory requirements. In doing so, we are providing a trusted environment in which to explore new investment approaches, enhance efficiency, and prepare for the next generation of financial services.”
EURXT is currently restricted to institutional and corporate clients. The reserves backing the token consist exclusively of cash held within the banking group, rather than a mix of reserve assets. The bank said the structure is intended to support settlement use cases in tokenised financial markets, where blockchain-based transfer of value is integrated with digital representations of traditional financial instruments.
Recent MiCA approval supports launch
The operational launch follows a thorough regulatory positioning cycle. CACEIS secured its CASP authorization last month under the EU’s Markets in Crypto-Assets (MiCA) regulation to provide crypto-asset services across the European Union.
The licence covers crypto custody, administration, order transmission, and crypto transfers through passporting rights. The approval expanded CACEIS’ regulated digital asset capabilities ahead of the EURXT launch.
The stablecoin also comes as more European financial institutions explore blockchain-based settlement systems under the MiCA framework. Most of these initiatives are focused on institutional settlement rather than retail payments.
Also Read: MiCA Deadline Hits: Top Safe Crypto Platforms for EU Users in July 2026
