Svmuu News: CACEIS, the asset services arm of Crédit Agricole, has launched the EURO eXchange Token (EURXT), a euro-pegged stablecoin, on the Ethereum blockchain. CACEIS announced the news today and completed the first subscription to Amundi’s tokenized money market fund using EURXT.EURXT is pegged to the euro at a 1:1 ratio and is primarily targeted at institutional investors and corporate clients during its initial phase.
According to the project’s white paper, there is no hard cap on EURXT’s issuance, and its supply will be adjusted based on market demand via a smart contract system.According to data on the project’s website, the circulating supply of EURXT at launch is 20.02 million tokens, backed by approximately 20.02 million euros in reserves held by CACEIS Bank. The stablecoin complies with the EU’s Markets in Crypto-Assets (MiCA) regulation.Previously, in June 2025, CACEIS obtained a MiCA crypto-asset service provider license issued by French regulators. (Cointelegraph)