CACEIS launches EURXT stablecoin with 20.02 million euro supply on Ethereum
Crédit Agricole’s asset-servicing arm issued the euro-backed token for institutional and corporate clients and used it in an initial subscription to an Amundi tokenized money market fund under MiCA-compliant rails.
CACEIS, the asset-servicing arm of France’s Crédit Agricole, has launched the euro-pegged stablecoin EURO eXchange Token (EURXT) on Ethereum with an initial circulating supply of 20.02 million tokens backed 1:1 by about €20.02 million in reserves held by CACEIS Bank. The token was used immediately for an initial subscription to an Amundi tokenized money market fund, with the rollout initially targeting institutional and corporate clients. The launch complies with the EU’s MiCA crypto regime and follows CACEIS securing a French MiCA CASP license in June 2025, while the source also frames the move as part of broader blockchain integration in traditional finance focused on efficiency and compliance.
- stablecoin: A digital token designed to maintain a fixed value against another asset, typically a fiat currency.
- tokenized money market fund: A money market fund represented on a blockchain as digital tokens.
- MiCA CASP license: Authorization under the EU's Markets in Crypto-Assets rules for crypto-asset service providers.