French banking giant Crédit Agricole rolls out euro stablecoin, EURXT

Finance French banking giant Crédit Agricole rolls out euro stablecoin, EURXT 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. By Francisco Rodrigues | Edited by Sheldon Reback Jul 1, 2026, 1:50 p.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Credit Agricole has entered the euro-pegged stablecoin market. (Kwami Fattah Al Sissi/Unsplash) Summary Show Crédit Agricole introduced the EURO eXchange Token (EURXT), a euro-pegged, MiCA-compliant stablecoin issued on Ethereum by its asset-servicing arm, Caceis. EURXT debuted with 20 million tokens in circulation, backed 1:1 by euro reserves at Caceis Bank, according to data on the project's website. The token joins a market already populated by SocGen's EURCV and Circle's EURC and targeted by a group of 37 banks working together as Qivalis. Crédit Agricole (ACA), France's second-largest bank by assets, unveiled a euro-pegged stablecoin, a rival to offerings from smaller peer Société Générale (GLE) and Circle Internet (CRCL) in a market that's also targeted by Qivalis, a group of 37 European banks that plans to introduce its own contender later this year. The coin, EURO eXchange Token (EURXT), is pegged 1:1 to the euro and complies with the European Union’s Markets in Crypto-Assets (MiCA) framework, according to a post on the website of its asset servicing unit, Caceis Bank , which is issuing the token. It has already been used to settle a subscription into a tokenized Amundi money market fund. There are 20 million EURXT in circulation on Ethereum, backed 1:1 by euro reserves held by Caceis Bank. The compares with about 378 million of Circle's EURC and 124 million of SocGen's EURCV . The euro stablecoin market has grown substantially since MiCA rules governing the tokens took effect a year ago, with market capitalization more than doubling in 12 months, according to a DECTA study. Even so, the market is tiny compared with the U.S. dollar-pegged token arena dominated by Tether's USDT and Circle's USDC, at just 0.5% of market share. Amundi is one of the region's largest asset managers, with 2.4 trillion euros ($2.73 trillion) in assets under management. The firm debuted a tokenized share class for its flagship euro cash fund on Ethereum last year. Crédit Agricole said the token fits into its ACT 2028 plan, which includes a broader push into tokenized finance. banks Stablecoins Latest Crypto News 1 Morpho poised to scale as DeFi infrastructure play, Standard Chartered says 4 minutes ago 2 Ethereum gets a new nonprofit focused on institutional adoption 9 minutes ago 3 Citi slashes 12-month bitcoin, ether targets as ETF flows dry up 11 minutes ago 4 Tokenized Google stock inflated 7,700% in rare DeFi lending exploit 18 minutes ago 5 What's next for Bitcoin and stocks? Analysts see a volatile second half 51 minutes ago 6 Mysterious Solana project World unveiled as fully onchain prediction market 51 minutes ago 7 Bitcoin opens the third quarter in an historical red zone after rare losing first half 1 hour ago 8 Europe is rewriting its landmark crypto rulebook MiCA as hard July 1 deadline passes 1 hour ago 9 Ark Invest bought more than $75 million of crypto shares during June bloodbath 2 hours ago 10 XRP, HYPE funds are the bright spots as investors flee bitcoin, ether ETFs 2 hours ago Latest Research Building the Zcash Machine: Tachyon and Quantum Readiness Building the Zcash Machine: Tachyon and Quantum Readiness Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. By CoinDesk Research Jun 30, 2026 Commissioned by GenZcash Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. Why it matters : Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold. View Full Report More From Finance Phantom doubles down on perpetual futures with hire of Hyperliquid market builders Companies spending the most on AI are growing jobs, Ramp study finds Why OpenUSD's 'real threat' that tanked Circle stock still faces a steep uphill battle for adoption