ODDO BHF запускает EUROD: новый евро-стейблкоин от французского банка с историей в 175 лет ODDO BHF Launches EUROD: A New Euro Stablecoin from a 175-Year-Old French Bank

Founded 175 years ago, the French bank ODDO BHF has announced the launch of a euro-pegged stablecoin called EUROD on the Polygon network.

This stablecoin will be hosted on the Spanish crypto platform Bit2Me, which is backed by telecom giant Telefonica and financial institutions Unicaja and BBVA. The initial offering will consist of 5.1 million coins.

EUROD is being promoted as a low-volatile digital version of the euro that complies with the MiCA regulation. This asset targets both retail and institutional users.

Leif Ferreira, the CEO of Bit2Me, described the release of the stablecoin as a bridge between traditional finance and the crypto sector. Previously, the platform secured €30 million in investments with the involvement of Tether, the company behind USDT, to expand into the EU market.

At the end of September, nine banks formed a consortium to issue a euro stablecoin, aiming to provide an alternative to the dominant American fiat-pegged coins in the market.

In June, the crypto assets division of Societe Generale, SG-FORGE, announced the launch of the EURCV stablecoin.

As of the time of writing, the capitalization of the stablecoin sector is estimated at $306 billion, with USDT remaining the dominant player, holding a 59% market share.

The Taiwan-based company OwlTing, specializing in stablecoins, has received approval for a direct listing on the Nasdaq stock exchange. Trading of company shares under the ticker OWLS is set to commence on October 16.

In 2023, OwlTing launched the OwlPay platform, enabling companies to use stablecoins for payments to international suppliers.

The company’s CFO, Winnie Lin, emphasized that OwlTing plans to continue investing in new technologies, expand its international presence, and strengthen its compliance with local regulations.

«We focus on providing safe and cost-effective payment solutions based on stablecoins, creating long-term value for shareholders worldwide,» she added.

It is worth noting that Bernstein researchers have predicted a threefold increase in the market capitalization of USDC from Circle. According to their estimates, by the end of 2027, the asset’s market share in the stablecoin sector will rise to 33%.