Crédit Agricole launches regulated euro stablecoin EURXT

A major European bank has launched a regulated, euro-pegged stablecoin, marking a significant step by a traditional financial institution into the growing market for tokenized finance. Crédit Agricole, Europe's third-largest lender by assets, introduced the EURO eXchange Token (EURXT) on Wednesday, July 1, 2026, through its asset servicing subsidiary, CACEIS Bank.

The stablecoin, issued on the Ethereum blockchain, is designed as an Electronic Money Token (EMT) and maintains a 1:1 peg with the euro. It is backed by fiat currency reserves held by CACEIS. At launch, the circulating supply was 20.02 million EURXT tokens, matched by approximately 20.02 million euros in reserves. According to the project's white paper, there is no hard cap on issuance, with the supply intended to expand based on market demand through its smart contract system.

The launch is fully compliant with the European Union's Markets in Crypto-Assets (MiCA) regulatory framework. CACEIS secured a MiCA license from French regulators in June 2025, providing a clear legal foundation for the stablecoin's operation. The token's first known use case was facilitating a subscription into a tokenized Amundi money market...