DeutschMajor traditional banks are venturing into the crypto world: ODDO BHF, a French-German investment bank with over 100 billion euros in assets under management, has introduced its first stablecoin with EUROD. The new digital money is pegged to the euro and will initially be tradable on the Spanish exchange Bit2Me.
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Bit2Me is one of the largest trading platforms in Spain and enjoys additional trust through the participation of BBVA and Telefonica. For ODDO BHF, the introduction of the coin is a symbolic step: The bank, which previously mainly served institutional clients, is now opening up to the growing market for digital assets.
EUROD: Everything You Need to Know about the Euro Stablecoin
«EUROD is a regulated product with low volatility and complies with MiCA standards», the bank reported in an official statement. With this, ODDO BHF signals that security and compliance are also top priorities in the digital financial market. Regulatory security is a crucial factor for European investors to strengthen confidence in stablecoins.
With EUROD, the bank joins a number of European financial institutions that are including cryptocurrencies in their offerings. Societe Generale had already launched EURCV and USDCV, two stablecoins that are each pegged to the Euro and US dollar. Experts see this as a growing interest of established banks to connect traditional financial products with digital assets.
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Stablecoins are considered a bridge between traditional finance and crypto markets. They promise price stability, fast transactions and regulatory transparency – characteristics that are crucial for institutional investors. For ODDO BHF, EUROD should be particularly interesting for customers who want to integrate digital assets into their existing Euro portfolios without taking the risk of high price fluctuations.
«it Seemed Essential to Us to Offer a European Solution in Euro»
The decision to list EUROD on Bit2Me first has strategic reasons. The platform offers access to a growing European market and benefits from established partners such as BBVA and Telefonica. «It seemed essential to us to offer a European solution in Euro, in a market that is strongly dominated by USD stablecoins. Our goal is to become a leading issuer in the reference currency Euro», says Guy de Leusse, the Deputy COO.
Analysts rate the step as a long-term strategy. While many banks have so far only observed the crypto world from a distance, ODDO BHF and Societe Generale are now focusing on active participation. Experts expect that other European institutes will follow in order to remain competitive in the growing market for stablecoins. For the crypto community, EUROD marks an interesting development: An established financial player is bringing a regulated product to the market that offers stability and at the same time increases the reach of digital currencies.
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The combination of European regulation, Euro pegging and bank-backed trust could appeal especially to risk-averse investors. With the step of ODDO BHF, it becomes clear that stablecoins are no longer niche products for crypto enthusiasts, but are increasingly perceived by large financial institutions as a serious asset class. EUROD could thus become a test case for how traditional banks and digital assets will grow together in the future. (mck)
