The founder and CEO of Polygon recently highlighted the network’s growth, stating that Polygon’s presence in Europe rivals its dominance in Southeast Asia and Latin America.
This expansion was underscored by the announcement that ODDO BHF, a 175-year-old French banking giant, launched its Euro-backed stablecoin, EUROD, exclusively on Polygon. The launch represents a significant milestone for both Polygon and the broader European crypto ecosystem.
EUROD: A Stablecoin Backed by a Trusted European Bank
ODDO BHF described EUROD as one of the first stablecoins issued by a European bank, designed to combine the reliability of traditional finance with the transparency and efficiency of blockchain technology. EUROD complies with the European MiCA regulation, ensuring the highest standards of legal and financial compliance.
Managed by ODDO BHF Asset Management, each EUROD token benefits from rigorous collateral management, reinforcing both liquidity and security. The stablecoin is aimed at companies and individuals seeking instant, transparent, and secure euro-denominated transactions. With EUROD, users gain immediate access to euro liquidity while leveraging the expertise and guarantees of a leading European bank.
The EUROD launch exemplifies a broader trend of regulated, asset-backed stablecoins in Europe. According to the European Central Bank, the adoption of digital euros and stablecoins is accelerating as financial institutions seek ways to integrate blockchain technology while remaining fully compliant with regional regulations.
More About Polygon
On October 12th, Polygon highlighted its strong performance during a recent wave of market volatility that tested the limits of blockchain networks worldwide. While other systems faced congestion or downtime, Polygon’s infrastructure held steady, allowing users to continue sending transactions and moving funds globally without disruption.
The network credited its resilience to recent technical upgrades, including the Bhilai upgrade. It increased throughput by raising the block gas limit; the Heimdall upgrade, which improved consensus stability and sped up transaction finality; and the Rio upgrade, which introduced near-instant finality and reduced the risk of network reorganization.
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