While Bitcoin (BTC) and cryptocurrencies are becoming more and more adopted day by day, banks cannot resist the crypto trend.
At this point the latest news came from France.
According to Coindesk, French banking giant ODDO BHF announced that it has officially entered the cryptocurrency market with its euro-backed stablecoin EUROD.
EUROD is launching for the first time on Bit2Me, a platform backed by Telefonica, Unicaja and BBVA.
The 175-year-old bank, which manages over 150 billion euros (about $173 billion) in assets, will list EUROD on Bit2Me, the Madrid-based cryptocurrency platform backed by telecom giant Telefonica and major institutions such as Unicaja and BBVA.
The stablecoin complies with EU MiCA regulations and can be used by both individual and corporate users.
ODDO BHF stated that it positions EUROD as a bridge between traditional finance and digital assets.
The move by the established bank marks a significant step as it expands its product range for digital currencies and demonstrates the growing trend among traditional financial institutions to embrace blockchain technology and digital assets.
EUROD, which meets the requirements of the EU’s new MiCA regulation, is expected to have low volatility.
