Crédit Agricole Launches EURXT and Settles Europe's First Euro-Stablecoin Fund Deal

France's second-largest bank issued EURXT, a MiCA-compliant euro stablecoin on Ethereum, and used it to settle a subscription into a tokenized Amundi money market fund, a European first.

Crédit Agricole Launches EURXT and Settles Europe's First Euro-Stablecoin Fund Deal France's second-largest bank issued EURXT, a MiCA-compliant euro stablecoin on Ethereum, and used it to settle a subscription into a tokenized Amundi money market fund, a European first. Aaron Rafferty July 02, 2026 Key Takeaways Crédit Agricole, France's second-largest bank, launched EURXT, a euro-pegged stablecoin issued on Ethereum by its CACEIS arm and backed one-to-one by euro reserves. The bank used EURXT to settle a subscription into a tokenized Amundi money market fund, calling it the first euro-stablecoin settlement of a tokenized fund in Europe. EURXT is MiCA-compliant and arrives the same week Europe's crypto rulebook took full effect, entering a euro-stablecoin market still dwarfed by dollar tokens. Crédit Agricole has issued its own euro stablecoin, and it put the token to work on day one. The bank, France's second-largest by assets, launched the EURO eXchange Token , or EURXT, on July 1 through CACEIS, its asset-servicing arm. The token runs on Ethereum, follows the ERC-20 standard, and is backed one-to-one by euro cash held on the CACEIS Bank balance sheet. It debuted with about 20 million tokens in circulation, according to CACEIS . The first issuance was not a demo. Crédit Agricole used EURXT to settle a subscription into a tokenized Amundi money market fund, which it called the first time a tokenized Luxembourg fund was settled in a euro stablecoin at the European level. Amundi is one of the region's largest asset managers, with 2.4 trillion euros under management. Olivier Gavalda, the bank's chief executive, described EURXT as "a stable, secure payment instrument that complies with the latest European regulatory requirements." The token is