French banking giant ODDO BHF, with 175 years of history and over €150 billion in assets under management, has officially entered the cryptocurrency market with the launch of its euro-backed stablecoin, EUROD. The Paris-based group had been anticipating this launch since announcing the EUROD project in late 2024, pending regulatory approval. This move signifies a major step for a traditional financial institution bridging into digital assets and reflects the growing interest from traditional banks in digital currencies.
EUROD is designed to be a low-volatility digital version of the euro, compliant with the European Union's Markets in Crypto-Assets (MiCA) regulations. It is pegged 1:1 to the Euro and backed by reserves held in regulated accounts, providing users with confidence in its stability and operational mechanics. The stablecoin targets both retail investors and institutional clients, aiming to offer a secure and accessible means of transacting digitally while remaining tethered to the euro.
The EUROD stablecoin will be listed on Bit2Me, a major Spanish crypto platform based in Madrid, backed by telecom giant Telefonica and financial institutions Unicaja and BBVA. The initial offering will consist of 5.1 million coins. Bit2Me aims to bridge crypto-native trading with traditional finance, covering all requirements of EU-based regulations. The listing ensures EUROD gains immediate access to a large European user base and provides infrastructure for secure token custody and compliance.
ODDO BHF hopes to position EUROD as a payment solution, combining the agility of stablecoins and the stability of bank-based reserves. The bank aims to provide clients with frictionless Euro liquidity on-chain, enabling faster settlement, reduced counterparty risk, and alignment with evolving DeFi and institutional use cases.
The launch of EUROD comes at a time when stablecoins are gaining traction as financial instruments with increasing regulatory clarity. The overall supply of stablecoins is over $300 billion, with most tokens using dollar-based denominations. EUROD joins a growing number of initiatives for euro-based stablecoins, including EURCV from Societe Generale-FORGE, as institutions seek to offer alternatives to the dominant US dollar-pegged coins.
Experts note that stablecoins like EUROD are increasingly favored for payments and trading. The combination of regulatory compliance and euro backing may attract cautious investors. By launching EUROD, ODDO BHF positions itself alongside emerging digital finance players. This move reflects banks' growing willingness to adopt blockchain technology.
