French banking group Crédit Agricole's asset services subsidiary CACEIS officially issued the EURXT euro stablecoin on July 1; EURXT is based on the Ethereum ERC-20 standard, with an initial circulating supply of 20,020,000 tokens, 1:1 backed by euro cash on CACEIS Bank's balance sheet, and compliant with the EU MiCA regulation.
EURXT Technical Specifications: Initial Circulating Supply 20,020,000 Tokens
According to CACEIS official information, the technical architecture of EURXT is as follows: underlying blockchain is Ethereum, using ERC-20 standard; initial circulating supply 20,020,000 tokens; each EURXT is 1:1 backed by 1 euro cash on CACEIS Bank's balance sheet. EURXT falls under the EMT (Electronic Money Token) category within the MiCA regulatory framework, the same regulatory structure as Circle's EURC. Currently, issuance is limited to institutional and corporate clients; retail users are not yet eligible.
First Tokenized UCITS Money Market Fund Subscription in Europe: Settled on EURXT Launch Day
According to CACEIS official statement, on July 1, 2026, on the first day of EURXT launch, its first real-world application was completed: the first tokenized UCITS money market fund subscription in Europe settled with a euro stablecoin.
UCITS (Undertakings for Collective Investment in Transferable Securities) is a unified EU investment fund structure with a large institutional scale; this integration marks the first time a traditional bank asset services business has completed both tokenized fund subscription and stablecoin settlement on the same day.
MiCA Deadline and EMT Category: EURXT Compliant with EU Regulations, Launch Date Coincides with Transition Deadline
According to reports, EURXT was launched on July 1, 2026, which also marks the transition deadline for MiCA (EU Markets in Crypto-Assets Regulation) crypto asset service providers. EURXT complies with MiCA's issuance rules for EMTs, in the same MiCA regulatory category as Circle's EURC and SG-FORGE's EURCV. EURXT is part of the Crédit Agricole Group's ACT 2028 long-term strategy, positioned as the group's infrastructure tool for blockchain settlement and asset services.
European Institutional Stablecoin Competitive Landscape: EURXT Joins Market with EURC, EURCV and Other Live Products
According to reports, the main participants in the European institutional euro stablecoin market and their known specifications are as follows:
EURXT (CACEIS, Crédit Agricole Group): Launched July 1, 2026, ERC-20, initial circulating supply 20,020,000 tokens, MiCA EMT category, limited to institutional and corporate clients
EURC (Circle): MiCA-compliant euro stablecoin, same regulatory structure as EURXT
EURCV (SG-FORGE, Société Générale subsidiary): Euro stablecoin issued by a major European bank, already live
USDC-JPY Partnership (Circle and Nomura): European stablecoin ecosystem extends to yen-denominated products
FAQ
What is EURXT and who issues it?
According to CACEIS official information, EURXT (Euro eXchange Token) is a euro stablecoin issued on July 1, 2026, by CACEIS, the asset services subsidiary of the Crédit Agricole Group. It is based on the Ethereum ERC-20 standard, 1:1 backed by euro cash on CACEIS Bank's balance sheet, and compliant with MiCA EMT (Electronic Money Token) regulations.
What milestone did EURXT achieve on its launch day?
According to CACEIS official statement, on its launch day (July 1, 2026), EURXT completed the first tokenized UCITS money market fund subscription in Europe settled with a euro stablecoin, marking the first time a traditional bank asset services business integrated both tokenized fund subscription and stablecoin settlement on the same day.
Which users is EURXT currently open to?
According to CACEIS official statement, EURXT issuance is currently limited to institutional and corporate clients, and is not yet open to retail users.
