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ODDO BHF, a well-respected 175-year-old French bank, has launched its very own euro-backed stablecoin called $EUROD. It’s designed to bridge old-school banking and the new world of blockchain.

KEY POINTS:
➡️ ODDO BHF, a French bank, has launched its own euro-backed stablecoin, $EUROD.
➡️ The bank has teamed up with Bit2Me, a regulated exchange, to launch to coin.
➡️ Christine Lagarde, the European Central Bank’s president, has expressed concerns about relying on foreign stablecoins as they may mess with financial stability.

This isn’t a wild, unregulated adventure. It’s happening under Europe’s new MiCA rules, which provide a clear framework for digital assets. The bank is teaming up with a regulated exchange, Bit2Me, and using tech from Fireblocks to make sure everything is secure and above board.

The timing is perfect, too. The European Central Bank’s president, Christine Lagarde, has been vocal about the risks of relying on foreign stablecoins. She’s worried they could mess with Europe’s financial stability.

With MiCA, European players are racing to create their own regulated, euro-based stablecoins. Heavy hitters like Société Générale and even a big group of European banks backed by Citigroup are joining the stablecoin race.

While the euro stablecoin market is still small compared to the US, this is a significant step forward. For ODDO BHF, $EUROD is all about building trust and attracting institutional clients in the digital space.

The big question now is, will investors and businesses embrace this new, regulated digital euro? We’ll have to wait and see.

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