French banking giant ODDO BHF has launched its own stablecoin EUROD, pegged to the euro. The new digital asset is available on the Madrid-based crypto platform Bit2Me.
The bank, which manages assets worth more than $150 million, announced for the first time stablecoin EUROD at the end of 2024. At the same time, representatives of the financial institution announced that they would position EUROD as «a payment solution that combines the flexibility of stablecoins and the stability of bank reserves.» Fireblocks became ODDO BHF’s partner in the stablecoin launch.
EUROD is expected to be structured in accordance with EU requirements, which require all underlying assets to be transparent and fiat-backed by regulated banks. EU regulations are stricter than the Genius Act in the US, which has sparked a wave of new Treasury bill-backed cryptocurrency launches.
Madrid-based platform Bit2Me, which launched a new stablecoin, also aims to integrate cryptocurrency trading with traditional finance to comply with all EU legal requirements.
The listing of the ODDO BHF stablecoin in euros is another important step in Bit2Me’s mission to provide secure, regulated digital assets, said Bit2Me CEO Leif Ferreira.
EUROD isn’t the first euro-pegged asset launched by the bank. The Société Générale-FORGE stablecoin was previously announced.