Crédit Agricole Launches EURXT Euro Stablecoin for Institutions

Crédit Agricole debuts EURXT, a MiCA-compliant stablecoin backed 1:1 by Euros, targeting institutional settlements and tokenized asset management.

This digital asset is designed specifically for institutional and corporate clients, serving as a payment method for transactions involving tokenized financial instruments.

The launch of EURXT positions Crédit Agricole among the major European banks building their own blockchain-based payment infrastructure.

Classified as an Electronic Money Token (EMT) under the MiCA regulation, the new token is backed 1:1 by Euros held on the balance sheet of CACEIS Bank.

Unlike most publicly traded stablecoins, EURXT does not target retail investors or crypto exchanges. Instead, the bank is positioning it as an institutional payment tool to accelerate the settlement of tokenized asset trades and streamline administrative processes in investment fund management.

First Application with Amundi Fund

Upon its debut, EURXT was utilized for the first subscription in a tokenized fund by Amundi—a money market UCITS fund registered in Luxembourg. This transaction demonstrates how traditional fund operations can be executed via blockchain infrastructure, replacing standard banking processes that often take several business days.

At launch, approximately €20 million in EURXT was issued. The minimum investment for clients is set at €10,000, further emphasizing the project’s institutional nature.

Part of the ACT 2028 Strategy

The stablecoin’s release is a key component of Crédit Agricole’s ACT 2028 strategic plan, which aims to accelerate the adoption of tokenized financial instruments and digital payments.

The bank joins a growing circle of European financial institutions developing proprietary blockchain solutions. These include Société Générale with its EURCV, as well as major groups like HSBC and BNP Paribas, which are investing heavily in infrastructure for tokenized real-world assets.

Rising Competition in Bank-Issued Stablecoins

Crédit Agricole’s entry confirms a broader trend of traditional banks leveraging the regulatory clarity provided by MiCA to develop digital payment tools. Rather than competing directly with mainstream cryptocurrencies, European banks are focusing on institutional infrastructure where tokenized deposits and stablecoins can speed up settlement, reduce costs, and facilitate the trading of digitized financial assets.

With the launch of EURXT, Crédit Agricole intensifies competition in the regulated bank stablecoin segment, signaling that tokenization is becoming a core part of Europe’s financial infrastructure.