ODDO BHF Launches EUROD Stablecoin Compliant With MiCA Regulation
ODDO BHF, a French banking giant with over $173 billion in assets under management, has launched a euro-backed stablecoin named EUROD.
Key Highlights
- EUROD marks ODDO BHF's first venture into the cryptocurrency market.
- The stablecoin will be listed on Bit2Me, a major Madrid-based crypto platform supported by Telefonica, Unicaja, and BBVA.
- EUROD is designed for both retail and institutional clients and complies with the European Union’s Markets in Crypto-Assets (MiCA) regulation.
Stablecoins and Regulatory Compliance
- Société Générale-FORGE (SG-FORGE) and Bitpanda have expanded their partnership to integrate regulated stablecoins into decentralized finance (DeFi).
- This collaboration allows Bitpanda’s clients to use SG-FORGE’s EUR CoinVertible and USD CoinVertible in on-chain lending and borrowing.
Interest in MiCA Licenses
- Traditional financial players are increasingly attracted to crypto investments due to robust regulations like MiCA.
- Gate Technology Ltd secured a MiCA license from Malta Financial Services Authority (MFSA), essential for operations in Europe.
- Gemini exchange, operated by the Winklevoss twins, also received a MiCA license from MFSA, enabling service provision across the EEA.
- Other providers like Coinbase have obtained MiCA licenses to enhance their operations in Europe.