French Banking Giant ODDO BHF Launches Euro-Backed Stablecoin $EUROD on Polygon

A major step in Europe’s digital finance evolution, ODDO BHF, one of France’s oldest banking institutions, has officially entered the stablecoin race.

The 175-year-old banking group has launched its first euro-backed stablecoin, $EUROD, exclusively on Polygon, aiming to bring institutional-grade trust and compliance to the blockchain ecosystem.

In a market long dominated by USD-backed stablecoins, ODDO BHF’s move brings long-awaited diversity and institutional credibility. The newly launched $EUROD is a euro-denominated stablecoin designed to facilitate on-chain payments, settlements, and treasury operations within the European financial ecosystem.

For decades, ODDO BHF has been a household name in European banking. Now, it’s positioning itself as a bridge between traditional finance (TradFi) and decentralized finance (DeFi).

“EUROD represents the convergence of regulated finance and blockchain innovation,” an ODDO spokesperson noted. “Our goal is to make euro liquidity as efficient and programmable as dollar stablecoins, but with European standards of governance.”

ODDO BHF selected Polygon as the exclusive blockchain network for $EUROD. The choice reflects a growing trend among institutions prioritizing scalability, speed, and energy efficiency. Polygon has become a leading Layer-2 ecosystem for enterprise and government adoption, from major financial issuers to tokenization platforms.

Polygon Labs confirmed the collaboration, stating that ODDO BHF’s launch underscores how institutions are increasingly choosing Polygon for on-chain efficiency and interoperability.

Polygon’s infrastructure enables low-cost transfers and high throughput, critical for the kind of 24/7 settlement activity that stablecoins power. For banks, this means reduced friction and operational agility, core components of modern treasury systems.

The $EUROD stablecoin is fully compliant with the European Union’s MiCA (Markets in Crypto-Assets Regulation), which recently came into effect. This marks one of the first euro-backed stablecoins issued under MiCA’s comprehensive framework.

Regulatory alignment has become non-negotiable for institutional adoption. ODDO BHF’s approach demonstrates a commitment to risk transparency, full reserve backing, and audited governance.

“Trust and compliance are at the core of EUROD’s issuance,” ODDO stated. “We designed the token with MiCA’s principles in mind, investor protection, transparency, and clear counterparty accountability.”

The bank also released a detailed EUROD whitepaper, outlining the token’s structure, reserves, and risk disclosure.

To ensure liquidity, custody, and compliance across the ecosystem, ODDO partnered with several key players:

•  @flowdesk_co, providing liquidity management to ensure efficient trading and exchange depth.
•  @FireblocksHQ, powering the tokenization infrastructure and secure custody for institutions.
•  @bit2me, the first European exchange to list $EUROD, expanding euro stablecoin access to retail and institutional markets.

This multi-party framework ensures that EUROD operates within robust technological and financial safeguards, from token issuance to secondary market liquidity.

According to ODDO BHF, $EUROD offers three defining advantages for on-chain finance:

1. Euro rails on-chain, enabling faster, cheaper, and fully transparent settlements.

2. 24/7 transferability, providing operational flexibility for global trading and corporate treasury functions.

3. Institutional governance, backed by risk, compliance, and audit standards familiar to traditional banking.

In simple terms: $EUROD brings the stability of the euro into the speed of blockchain, without compromising trust.

Until now, euro-backed stablecoins have represented a small fraction of global stablecoin circulation, The majority of the stablecoin market remains tied to USD-pegged assets like USDT and USDC.

That dominance may soon shift. As MiCA takes hold across the EU, banks and fintechs are racing to issue regulated euro stablecoins. ODDO BHF’s $EUROD sets an early precedent, fully compliant, institutionally backed, and designed for long-term scalability.

Polygon’s Head of Institutional Strategy commented:

“EUROD is not just another stablecoin, it’s a blueprint for how compliant, transparent digital euros should function in a MiCA-regulated Europe.”

Founded in 1849, ODDO BHF has been a cornerstone of French banking and asset management. With over €130 billion in client assets, the bank serves institutions, corporates, and high-net-worth clients across Europe.

The launch of $EUROD represents a strategic modernization of ODDO’s services, embracing tokenized finance while preserving regulatory rigor.

By launching on Polygon, ODDO also signals that DeFi is no longer just for startups, it’s becoming the infrastructure layer for traditional financial institutions seeking efficiency and global liquidity.

Like all stablecoins, $EUROD carries inherent counterparty and technological risks. ODDO emphasizes that these are mitigated through transparent disclosures, real-world reserves, and blockchain verifiability.

Detailed regulatory and operational information can be found in the EUROD whitepaper, accessible via the project’s official website. The document outlines the asset’s backing mechanisms, audit process, and redemption policies, a level of transparency that MiCA now enforces for all compliant issuers.

With $EUROD live on Polygon, Europe’s financial landscape is changing, fast. ODDO BHF’s move brings credibility to euro-denominated stablecoins, paving the way for banks, corporates, and fintechs to transact on-chain with confidence.

Polygon continues to emerge as the go-to blockchain for regulated financial innovation, while ODDO BHF cements its position as a leader in bridging traditional banking and decentralized finance.

The stablecoin race is evolving, and this time, it’s not just about dollars. It’s about Europe going on-chain.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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