Crédit Agricole launches EURXT euro stablecoin

Crédit Agricole’s asset-servicing arm, CACEIS, launched the EURO eXchange Token (EURXT) on Ethereum and used the token for the first subscription into a tokenized Amundi Money Market Fund. The firm announced the launch on Wednesday.

EURXT is issued as an electronic money token pegged 1:1 to the euro and is structured to be redeemable for euros held in reserve. CACEIS said the token is aimed initially at institutional investors and corporate clients for use in tokenized finance and blockchain-based settlement.

Project documentation shows about 20.02 million EURXT were in circulation at launch, matched by roughly the same amount in euros held by CACEIS Bank as reserves. The white paper indicates there is no fixed cap on issuance; supply can expand through the token’s smart contract mechanism according to market demand. The token is presented as an electronic money token under the European Markets in Crypto-Assets (MiCA) framework.

CACEIS obtained a MiCA crypto-asset service provider license in France in June 2025. The firm framed EURXT as compliant with MiCA requirements for stablecoins and related services, enabling it to offer tokenized cash instruments within the EU regulatory framework.

The EURXT launch adds to activity by banks and asset managers issuing or testing stablecoins and tokenized assets to speed settlement and support digital workflows. Some large European banks have taken part in initiatives to standardize tokenized assets and infrastructure.

CACEIS used EURXT immediately for a subscription to the tokenized Amundi Money Market Fund, illustrating a use case where tokenized cash can be integrated with digital asset custody and settlement processes. The issuer has promoted the token for institutional flows that require on-chain settlement and tokenized fund operations.