Crédit Agricole Launches 20.02M EURXT Euro Stablecoin for Institutional Settlement

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Crédit Agricole recently launched EURXT, a euro-backed stablecoin issued through CACEIS, the bank's asset servicing arm. The electronic money token, pegged 1:1 to the euro, was launched with 20.02 million tokens in circulation, matched by roughly 20.02 million euros in reserves held by CACEIS Bank. EURXT is issued on Ethereum and initially targeted at institutional investors and corporate clients. The first use case involved a subscription into a tokenized Amundi Money Market Fund, positioning the token as settlement infrastructure for institutional tokenized finance rather than a retail payment product. CACEIS secured a MiCA crypto-asset service provider license from French regulators in June 2025, providing regulatory clarity under the EU's Markets in Crypto-Assets framework.
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