Crédit Agricole Launches MiCA-Compliant Euro Stablecoin EURXT

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 also holds the top spot among European asset managers.

The bank's scale shows up in its numbers. 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%, well above regulatory minimums, and paid a dividend of 1.13 euros per share for 2025.

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 (AI) and data as one of three technology priorities in that plan.

The launch adds a regulated, bank-issued euro stablecoin to a market dominated by U.S. dollar-pegged tokens like USDT and USDC. MiCA compliance gives EURXT a regulatory foundation that some competing stablecoins lack in the EU.

For traders and institutions watching stablecoin flows, EURXT signals that traditional European banks are moving past pilot programs into live settlement. CACEIS says clients can track reserve composition directly on the project's website, a transparency step that regulators have pushed stablecoin issuers to adopt.

Crédit Agricole has not disclosed the size of the initial EURXT issuance tied to the Amundi fund subscription.

The EURXT launch fits into a wider pattern among European banks and asset managers moving fund operations on-chain. Amundi has already worked on tokenized fund structures in Luxembourg, and CACEIS has built out blockchain-based custody and fund administration services in recent years.

Crédit Agricole frames EURXT as settlement infrastructure for corporates and institutions moving money between tokenized products, not a trading instrument for retail crypto markets.

Analysts tracking EU stablecoin rules will likely watch whether other major banks follow with their own MiCA-compliant tokens. A bank-issued, fully reserved euro stablecoin gives institutional desks an alternative to dollar stablecoins when settling euro trades on public blockchains.