Credit Agricole launches MiCA-compliant EUR stablecoin EURXT
- Tokenization Insight
- Jul 2
- 2 min read
Credit Agricole launches MiCA-compliant EUR stablecoin and embeds it in tokenized MMF transaction.
Crédit Agricole has launched EURXT (EURO eXchange Token) through CACEIS and completed its first subscription into an Amundi tokenized money market fund using the stablecoin.
➡️ Why this matter
Credit Agricole is one of Europe's largest banking groups integrating digital cash across its own institutional ecosystem.
It is the second-largest banking group in France and one of Europe's largest financial institutions, with leading businesses spanning:
• Capital markets (Crédit Agricole CIB)
• Asset management (Amundi – Europe's largest asset manager)
• Asset servicing and custody (CACEIS)
Amundi and CACEIS already have executed on their own digital asset initiatives in asset management and custody & servicing. Launching EURXT allows the group to connect these businesses with a native on-chain settlement asset.
Today, that means settling subscriptions into tokenized funds.
Tomorrow, it could support tokenized securities, collateral mobility, repo, and broader capital markets settlement across the group's infrastructure.
Unlike standalone stablecoin issuers, Crédit Agricole already owns the distribution channels, institutional clients and financial infrastructure needed to put digital cash into production.
With this move, Crédit Agricole becomes the largest banking group in Europe to launch its own MiCA-compliant stablecoin, joining earlier entrants such as SG-FORGE, ODDO BHF and Banking Circle.
The next phase of competition in Europe may not be about who can issue a stablecoin but which banking groups can embed digital cash across custody, asset management, payments and capital markets. The GTM competition between Credit Agricole's EURXT and SG Forge's EURCV is about to heat up.
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