Crédit Agricole issued EURXT, a euro-denominated stablecoin on the Ethereum blockchain through CACEIS, its asset servicing arm. The ERC-20 token carries a 1:1 peg to the euro and complies with the European Union's Markets in Crypto-Assets regulation (MiCA). CACEIS used EURXT to settle a client subscription into the Amundi Money Market Fund, a Luxembourg-domiciled UCITS fund, marking the first time a tokenized UCITS money market fund has been settled in a euro stablecoin at the European level. Olivier Gavalda, chief executive of Crédit Agricole S.A., linked the launch to the bank's ACT 2028 medium-term plan, stating the token provides clients with a stable, secure payment instrument that complies with European regulatory requirements. The launch represents Crédit Agricole's move into tokenized finance infrastructure as part of its strategy targeting more than 8.5 billion euros in net income by 2028.
CACEIS Settles Amundi Fund Subscription in EURXT
CACEIS used EURXT to settle a client subscription into the Amundi Money Market Fund, a Luxembourg-domiciled UCITS fund. Crédit Agricole and CACEIS describe the transaction as the first time a tokenized UCITS money market fund has been settled in a euro stablecoin at the European level. Amundi manages close to 2.4 trillion euros for more than 200 million investors across 34 countries.
EURXT Reserves Held as Cash on CACEIS Bank Balance Sheet
EURXT reserves consist entirely of cash held on CACEIS Bank's balance sheet. Crédit Agricole publishes the size and makeup of those reserves, along with a white paper, on a dedicated website. The bank has not disclosed the size of the initial EURXT issuance tied to the Amundi fund subscription.
CACEIS Limits EURXT Access to Institutional and Corporate Clients
EURXT is currently limited to institutional investors and corporate clients of CACEIS. The bank has not announced a timeline for retail access. CACEIS holds 5.9 trillion euros in assets under custody and 3.7 trillion euros in assets under administration, based on figures from December 31, 2025.
Crédit Agricole Reports 10 Billion Euros Q1 2026 Revenue
Crédit Agricole ranks as the world's 10th largest bank by balance sheet size and the largest cooperative and mutualist bank globally. The group serves roughly 55 million customers in 46 countries. Through Amundi, it holds the top spot among European asset managers. Crédit Agricole Group posted 10 billion euros in first-quarter 2026 revenue, up 2.8% from a year earlier, with net income of 2.097 billion euros. Crédit Agricole S.A. reported a CET1 capital ratio of about 11.4% and paid a dividend of 1.13 euros per share for 2025. Olivier Gavalda has run Crédit Agricole S.A. as chief executive since May 2025. Eric Vial took over as chairman of the board on January 1, 2026. The group traces its roots to 1885, when the first local agricultural credit cooperative opened in Salins-les-Bains, France.
ACT 2028 Plan Targets 8.5 Billion Euros Net Income by 2028
EURXT falls under ACT 2028, the medium-term plan Crédit Agricole S.A. rolled out in late 2025. The plan sets a target of more than 8.5 billion euros in net income for the listed entity by 2028 and a return on tangible equity above 14%. Tokenized finance ranks alongside artificial intelligence and data as one of three technology priorities in that plan. Gavalda called EURXT a step toward the next generation of financial services.
FAQ
What is EURXT and who issued it?
EURXT is a euro-denominated stablecoin issued by Crédit Agricole through its asset servicing arm CACEIS on the Ethereum blockchain. The token follows the ERC-20 standard, carries a 1:1 peg to the euro, and complies with the European Union's Markets in Crypto-Assets regulation (MiCA). Reserves consist entirely of cash held on CACEIS Bank's balance sheet.
What transaction did CACEIS complete with EURXT?
CACEIS used EURXT to settle a client subscription into the Amundi Money Market Fund, a Luxembourg-domiciled UCITS fund. Crédit Agricole and CACEIS describe it as the first time a tokenized UCITS money market fund has been settled in a euro stablecoin at the European level.
Who can access EURXT?
EURXT is currently limited to institutional investors and corporate clients of CACEIS. The bank has not announced a timeline for retail access. CACEIS holds 5.9 trillion euros in assets under custody and 3.7 trillion euros in assets under administration as of December 31, 2025.
