France-based investment bank ODDO BHF has reached the final stages of its long-awaited euro-backed stablecoin project. The bank officially launched its new digital asset, EUROD. EUROD will initially be listed on the Madrid-based crypto platform Bit2Me.
ODDO BHF Makes Stablecoin Move
ODDO BHF is a well-established financial institution operating in private banking, asset management, and institutional investment services. The bank manages over $150 billion in assets and is attracting attention with this new step. The launch of EUROD adds a new dimension to the growing competition among euro-based stablecoins in Europe.
The bank had announced the EUROD project at the end of 2024 and planned to launch it by the end of 2025. Upon completion of regulatory approval, the token was launched ahead of schedule. EUROD is positioned as a MiCA-compliant digital currency designed for both individual and institutional investors, backed by a 1:1 euro collateral. ODDO BHF partnered with digital asset custody platform Fireblocks to develop the stablecoin's technical infrastructure. The bank aims to use EUROD both as a payment solution and as a reliable liquidity tool within the DeFi ecosystem.
EUROD is structured in accordance with the transparency criteria set by the European Central Bank and EU regulators. This means that all reserves behind the stablecoin consist of actual fiat assets held in regulated banks. In this respect, EUROD aims to provide a safer environment against depeg risk during market volatility.
Bit2Me CEO Leif Ferreira stated in a statement accompanying the listing announcement, "The listing of ODDO BHF's euro stablecoin on our platform is a significant step in our mission to offer regulated digital assets."
Bit2Me has recently become one of the fastest-growing crypto platforms in Europe. The company first came to the fore last year when Tether led a €30 million investment round. The platform, backed by major players such as Telefonica, Unicaja, and BBVA, operates licensed throughout the EU and continues to expand into the Latin American market.
EUROD's launch coincides with the launch of euro-backed digital assets such as Societe Generale-FORGE's EURCV banking stablecoin and Circle's EURC token.
US dollar lags behind
The recent weakness of the US dollar has fueled interest in euro-backed assets. Circle's EURC supply has surpassed 229 million tokens in recent months, with its market capitalization approaching $266 million. ODDO BHF's EUROD aims to add banking security and regulatory transparency to this growing ecosystem.
With EUROD's listing on Bit2Me, the regulated stablecoin market in Europe is becoming even more diverse.
