ODDO BHF, an independent European financial group, has launched EUROD, a euro denominated stablecoin issued under the EU’s Markets in Crypto Assets (MiCA) regulation. It is the latest European banking institution to enter the stablecoin market as traditional finance players explore blockchain based payment solutions.
The Paris based firm, which manages approximately 156 billion euros in client assets across private wealth management, asset management and banking services, will issue the token through partner platforms rather than distributing it directly to customers. EUROD has been listed on Bit2me, a Spanish crypto asset exchange, with Flowdesk providing liquidity services and Fireblocks handling the tokenization infrastructure.
ODDO BHF joins a growing number of European banking initiatives in the stablecoin space. Societe Generale’s subsidiary SocGen FORGE was a first mover, issuing its EURCV stablecoin in early 2023. SocGen FORGE was followed by Banking Circle and more recently AllUnity, a joint venture involving Deutsche Bank’s asset management arm DWS.
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