France's ODDO BHF Launches EUROD Stablecoin: Here's All

French Bank ODDO BHF Launches EUROD Stablecoin: Know Details

French banking giant ODDO BHF is stepping into the crypto space with the launch of the EUROD stablecoin. The launch of the euro-backed cryptocurrency by a financial powerhouse with 175 years of expertise underscores the influence of stable tokens in traditional finance (TradFi).

Notably, the EUROD stablecoin will debut on Bit2Me, a leading Madrid-based crypto exchange supported by major players such as telecom giant Telefonica and banking institutions Unicaja and BBVA.

ODDO BHF Enters Crypto Space with EUROD Stablecoin Launch

In the latest development within the French crypto industry, the traditional financial giant ODDO BHF has launched a euro-pegged digital asset. The EUROD stablecoin is designed to cater to both retail and institutional investors while fully complying with the EU’s MiCA regulatory framework.

Reportedly, EUROD is a low-volatility, euro-backed digital token built to comply with the country’s digital asset regulation. It will be officially listed on Bit2Me, an exchange which earlier this year raised €30 million ($35 million) in a funding round led by Tether. The platform positions the listing as a bridge between traditional finance and the crypto industry. Bit2Me CEO Leif Ferreira stated, “The listing of ODDO BHF’s euro stablecoin is another important step in Bit2Me’s mission to offer trusted, regulated digital assets.”

Why EUROD Stablecoin?

By introducing a euro-pegged digital asset through a regulated banking institution, ODDO BHF hopes to meet the growing demand for payment solutions that link traditional banking with modern technology.

Although the stable token market is still dominated by US dollar-backed tokens, more and more European institutions are entering the market. For instance, Société Générale-FORGE (SG-FORGE) has already issued its own euro-backed stable token, EURCV. In addition, nine European banks, including ING, Banca Sella, Danske Bank, DekaBank, and CaixaBank, teamed up last month to issue a euro-backed cryptocurrency adhering to MiCA standards.

Crypto Regulation in France

Clearly, cryptocurrency is entirely legal in France, with its own regulations, instead of being in a legal gray area. The PACTE Act of 2019 established the status of Digital Assets Service Providers (DASPs) and required them to register with the Autorité des Marchés Financiers (AMF) and adhere to strict anti-money laundering and cybersecurity regulations. Although crypto-assets are not classified as legal tender, this regulatory relationship maintains market integrity.

Moreover, with the EU’s MiCA regulation effective from December 30, 2024, it has become the primary regulatory framework for novel entrants to the world of virtual money, while existing DASPs are on track to transition to the harmonized EU rules by mid-2026.