In a decisive move into digital finance, French banking powerhouse ODDO BHF has formally launched EUROD, a euro-pegged stablecoin built for compliance under the EU’s MiCA (Markets in Crypto-Assets) framework. The debut signals the bank’s first direct entry into the crypto landscape.
EUROD: Bridging Banks and Blockchains
EUROD is engineered to mirror the stability of the euro while harnessing blockchain efficiency. It is explicitly tailored for both retail users and institutional actors, aiming to reduce volatility and bolster confidence in euro-based digital transactions.
To initiate its market presence, EUROD will be listed on Bit2Me, a Madrid-based crypto exchange backed by Telefónica as well as Spanish banking institutions like Unicaja and BBVA.
Bit2Me already holds MiCA authorization under Spain’s regulatory regime, which helps it operate across the EU’s digital asset market.
Leif Ferreira, CEO of Bit2Me, described the listing as “another important step in Bit2Me’s mission to offer trusted, regulated digital assets.”
Context & Strategic Rationale
ODDO BHF is not new to the idea of stablecoins. As early as late 2024, the bank was reportedly collaborating with Fireblocks to build the architecture behind a euro-based token.
The challenge has always been compliance, transparency, and gaining market traction in a space currently dominated by U.S. dollar-pegged tokens.
On the regulatory front, eurozone finance ministers are actively debating how to nurture native stablecoin issuance to reduce the region’s dependence on dollar-based digital assets.
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That discussion provides momentum for EUROD’s entry, especially as the EU continues to enforce MiCA across member states.
What Lies Ahead & Key Risks
- Reserve transparency & auditability: To remain MiCA-compliant, EUROD’s reserves must be verifiable and held in regulated institutions. Any opacity could undermine trust.
- Liquidity and adoption: Gaining sufficient on-chain liquidity, exchange listings, and real-use cases (e.g. payments, DeFi, treasury) will be essential for EUROD to gain traction.
- Competition: EUROD enters a crowded European stablecoin space. Projects like Société Générale’s EURCV and a nine-bank consortium’s euro stablecoin already exist or are in development.
- Regulatory shifts: As stablecoin policy evolves, issuers must stay agile to adapt to changes in EU or national frameworks.
