As dollar-pegged tokens like Tether’s USDT and Circle’s USDC continue to dominate, the EUROD joins a growing wave of euro-backed stablecoins entering the market.
Franco-German banking group ODDO BHF has launched a stablecoin pegged to the euro under the European Union’s Markets in Crypto-Assets (MiCA) regulation.
According to an announcement on Wednesday, the bank will serve as the issuer of the EUROD stablecoin, while market-making platform Flowdesk will provide liquidity and Fireblocks will supply the tokenization infrastructure.
Guy de Leusse, deputy chief operating officer at ODDO BHF, said the group “felt it was essential to offer a European solution denominated in euros to provide an alternative to stablecoins denominated in US dollars.”
