French Banking Giant ODDO BHF Enters Crypto With Euro-Backed Stablecoin EUROD
- French banking giant ODDO BHF is launching a euro-backed stablecoin called EUROD, designed to be a compliant digital version of the euro.
- EUROD will be listed on Madrid-based crypto platform Bit2Me, which is backed by major institutions including telecom giant Telefonica and banking giants Unicaja and BBVA.
- The stablecoin meets EU regulatory requirements under MiCA and is aimed at both retail and institutional users, the companies said.
175-year-old French banking giant ODDO BHF, which manages over €150 billion ($173 billion) in assets, is entering the crypto space with the launch of a euro-backed stablecoin dubbed EUROD.
The token is set to be listed on Madrid-based crypto platform Bit2Me, one of the largest exchanges in the Spanish-speaking world that’s backed by telecom giant Telefonica and other major institutions including banking giants Unicaja and BBVA.
EUROD, according to a press release shared with CoinDesk, is designed to be a compliant, low-volatility digital version of the euro. The firms said it meets requirements under the EU’s new MiCA regulation and is aimed at both retail and institutional users.
Bit2Me, which saw Tether lead a €30 million ($35 million) investment round in it earlier this year, is positioning the listing as a bridge between traditional finance and crypto.
“The listing of ODDO BHF’s euro stablecoin is another important step in Bit2Me’s mission to offer trusted, regulated digital assets,” said Leif Ferreira, Bit2Me’s CEO.
By pairing a euro-pegged digital asset with a regulated banking institution, ODDO BHF is betting on a growing demand for payment solutions that combine the stability of fiat with the convenience of blockchain rails.
While the stablecoin market is heavily dominated by U.S. dollar-backed tokens, major institutions have been venturing into EUR-backed stablecoins. Société Générale-FORGE (SG-FORGE) is one of those institutions, having issued a euro-backed stablecoin called EURCV$1.1632 .
Last month, nine European banks including ING, Banca Sella, Dankse Bank, DekaBank, and CaixaBank joined forces to issue a MiCA-Compliant euro-backed stablecoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wall Street giants collectively raise rate hike forecasts, US Treasury futures continue to fall, gold drops over 1% to break 4000
After the US October CPI exceeded expectations, Goldman Sachs and Nomura added a forecast for an interest rate hike in March next year, while Deutsche Bank included a forecast for a rate hike in January next year. Currently, the market has fully priced in a 25 basis point rate hike in December, with a 13% probability for a 50 basis point hike. On Wednesday, the US Treasury spot market was closed, but Treasury futures continued to fall, with corresponding yields rising by about 2 to 4 basis points, and spot gold came under pressure, dropping by 1.1%.
No Need to Worry About the Cooling Down of AI Data Center Construction? The US Import Boom Is Unlikely to Subside in the Short Term, Real Impact May Come in 2029
It takes an average of 4.8 years from finalizing investment to starting construction of a data center project, and an additional 2.6 years from construction start to becoming operational. Servers usually cannot be installed until after the building structure and racks are completed. For trade partners such as Taiwan (China), South Korea, and Mexico who rely on US data center supply chain demand, the inertia in construction timelines provides at least a one- to two-year buffer for future exports.
Federal Reserve Major Debate: When Should the Tenure of “Number Three” Williams End?
The main point of contention is whether Williams should step down in June 2028, upon completing a full 10-year term, or in June 2027, when he reaches the mandatory retirement age of 65. Analysts point out that the Federal Reserve Board holds ultimate discretion; if he leaves early, Fed Chair Waller would be able to assert greater control over the appointment to this critical position. However, forcing Williams to shorten his term could easily be interpreted as political manipulation. Williams himself is expected to serve until June 2028.
Crypto prices
More
