Crédit Agricole Launches EURXT Euro Stablecoin With 20M Tokens, Rivaling EURC
Crédit Agricole launched EURXT with an initial supply of 20 million tokens, fully backed by euro reserves at its custody arm Caceis Bank. This positions EURXT as a new entrant in the euro stablecoin space, directly challenging existing options.
- ▲ Launch of EURXT with 20M token supply and 1:1 euro backing at Caceis Bank
- ▲ Entry of major French bank into stablecoin market
- ▼ Limited initial adoption may hinder market penetration
- ▼ Competition from established stablecoins EURC and EURCV
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What is the initial supply of EURXT?
EURXT launched with 20 million tokens in circulation.
What backs the EURXT stablecoin?
EURXT is backed 1:1 by euro reserves held at Caceis Bank, a subsidiary of Crédit Agricole.