ODDO BHF: the French banking giant launches the stablecoin EUROD

ODDO BHF, French banking giant, is making its entry into the crypto world by launching the new stablecoin EUROD. Behind EUROD are significant supporting institutions, while the first listing of the euro-pegged stablecoin will take place on Bit2Me. 

ODDO BHF and major institutions launch the new stablecoin EUROD 

ODDO BHF announced the launch of the new euro-backed stablecoin EUROD, which will be listed on the crypto platform Bit2Me. 

Specifically, it seems that EUROD is designed to be a compliant and low-volatility digital version of the euro. 

The companies have stated that it meets the requirements set by the new MiCA regulation of the EU and is intended for both retail and institutional users.

Behind the development of EUROD, there is not only the French banking giant, but also other important institutions. 

In fact, supporting the new 1:1 euro-backed stablecoin are the telecommunications giant Telefonica and the banking giants Unicaja and BBVA.

The new stablecoin EUROD lands on the crypto platform Bit2Me

As anticipated, EUROD will be listed primarily on the Madrid-based cryptocurrency platform Bit2Me. 

In this regard, Leif Ferreira, CEO of Bit2Me, stated the following:

Bit2Me made headlines last August when Tether acquired a minority stake in the company, leading a 30 million euro investment round. 

Tether’s investment in Bit2Me, combined with the recently obtained EU regulatory license by Bit2Me and the support of future strategic partners, will enable the Spanish company to accelerate its expansion throughout the EU.

Not only that, Bit2Me simultaneously strengthens its presence in Argentina and other parts of Latin America, consolidating its position as a key player in both the European crypto ecosystem and the Spanish-speaking one.

Regulated Stablecoins in DeFi

In recent hours, there has been talk about how regulated stablecoins are transitioning from bank custody to DeFi. 

This is not the current case with ODDO BHF, but it seems that in general institutions and brokers are building partnerships to offer fiat liquidity on-chain. 

In fact, the latest initiatives like EURCV and USDCV aim to provide bank-level stablecoins directly to retail users and on-chain markets. This means that investors can access fiat-backed liquidity on DeFi protocols. 

At the moment, however, the custody details and redemption mechanics are still being finalized.