The 175-year-old French banking behemoth ODDO BHF is making its foray into the cryptocurrency market with the introduction of EUROD, a euro-backed stablecoin which oversees more than €150 billion ($173 billion) in assets.
Cryptocurrency and the blockchain industry have flooded so much that even financial institutions and banking giants from all over the world are getting into the space. And amongst all stablecoins are the main attractions.
ODDO BHF launches EUROD
The cryptocurrency platform Bit2Me, situated in Madrid and supported by telecom behemoth Telefonica as well as other significant organisations, including banking behemoths Unicaja and BBVA, is one of the biggest exchanges in the Spanish-speaking world and is scheduled to list the coin.
A news release provided to CoinDesk states that EUROD is intended to be a low-volatility, compliant digital currency that resembles the euro. The companies claimed that it is intended for both retail and institutional customers and satisfies the standards of the EU’s new MiCA law.
Tether led a €30 million ($35 million) financing round in Bit2Me earlier this year, and the company is promoting the listing as a link between crypto and traditional banking.
Also Read: JPMorgan Says Regulators Back Tokenised Bank Deposits More Than Stablecoins
What does this mean?
“The listing of ODDO BHF’s euro stablecoin is another important step in Bit2Me’s mission to offer trusted, regulated digital assets,” said Leif Ferreira, Bit2Me’s CEO.
ODDO BHF is placing a wager on the increasing need for payment solutions that combine the ease of blockchain rails with the stability of cash by partnering with a regulated financial institution and offering a euro-pegged digital asset.
Stablecoins have taken the US crypto market by storm. And between this, special attention is being given to the euro-backed stablecoins.
A MiCA-compliant euro-backed stablecoin was released last month by nine European banks, including ING, Banca Sella, Dankse Bank, DekaBank, and CaixaBank.
Stablecoins and Banks
Not only that, but since Donald Trump entered office earlier this year, crypto rules have begun to favour digital assets, and banking behemoth Citibank plans to introduce crypto custody in 2026.
Additionally, UnoCrypto reported, Roberto Campos Neto, the vice-chairman of Nubank, stated at the Meridian 2025 event that the bank intends to test dollar-pegged stablecoin payments on its credit cards.
To address the contemporary issues facing the financial industry, the conventional financial system and the era of cryptocurrencies must work together.
It looks like the traditional and finance system that once ridiculed cryptocurrency and stablecoins has finally understood its worth and also understood how technology and compliance can go together if it is put correctly, with the right set of freedom and rules.
Also Read: Coinbase States Stablecoins Are Not Weakening US Bank Deposits And Labels The Concern As A Myth