Headline: Французский ODDO BHF запускает евро-стейблкоин EUROD на платформе Polygon Translation: French ODDO BHF Launches Euro-Stablecoin EUROD on Polygon Platform

Founded 175 years ago, the French bank ODDO BHF has announced the introduction of a euro-pegged stablecoin named EUROD on the Polygon network.

This stablecoin will be launched on the Spanish crypto platform Bit2Me, backed by telecommunications giant Telefonica and financial institutions Unicaja and BBVA. The initial offering will consist of 5.1 million coins.

EUROD is positioned as a low-volatility digital version of the euro that conforms to the MiCA regulatory framework. The asset is intended for both retail and institutional users.

Leif Ferreira, the CEO of Bit2Me, described the launch of this stablecoin as a bridge connecting traditional finance with the cryptocurrency industry. Previously, the platform raised €30 million in investments with participation from Tether, the company behind USDT, to expand its presence in the EU market.

At the end of September, nine banks formed a consortium to issue a euro stablecoin, aiming to provide an alternative to the dominant American fiat-pegged coins in the market.

In June, the crypto asset division of Societe Generale, SG-FORGE, announced the launch of EURCV.

As of the time of writing, the market capitalization of the stablecoin sector is estimated at $306 billion, with USDT remaining the dominant player, holding a 59% market share.

The Taiwanese company, OwlTing, specializing in stablecoins, has secured approval for a direct listing on the Nasdaq stock exchange. Trading of the firm’s shares under the ticker OWLS is set to begin on October 16.

In 2023, OwlTing launched the OwlPay platform, enabling companies to use stablecoins to settle payments with international suppliers.

The company’s CFO, Winnie Lin, emphasized that OwlTing intends to continue investing in new technologies, expanding its global presence, and enhancing compliance with local regulations.

«We are focused on providing safe and cost-effective payment solutions based on stablecoins that create long-term value for shareholders around the world,” she added.

As a reminder, Bernstein researchers predicted a threefold increase in the market capitalization of USDC from Circle. According to their estimates, by the end of 2027, the asset’s market share in the stablecoin sector is expected to grow to 33%.