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.
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Summary
- 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.
