European bank issues first euro stablecoin on Polygon network
Polygon Weekly Overview - October 17, 2025
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By The Numbers
Polygon daily active addresses: 647K (-3.00%)
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The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
Polygon Spotlight
🟪 What happened: ODDO BHF, a 175-year-old French banking institution, launched EUROD, its first euro-backed stablecoin exclusively on Polygon.
🟪 Why it matters: This launch aligns with the ongoing institutional interest in stablecoins as traditional European banks enter the market; a space which has been dominated by USD-based tokens. The stablecoin is currently listed on Bit2me exchange and has 5.1 million collateralized tokens in circulation.
Polygon PoS’ consensus mechanism offers transaction efficiency and low costs, while its EVM compatibility allows the stablecoin to integrate across many DeFi protocols. EUROD is one of the first MiCA-compliant stablecoins issued by a European bank. The token maintains a 1:1 peg with the euro through reserves managed by ODDO BHF Asset Management. Up to 70% of these reserves can be invested in highly liquid, low-risk financial instruments, for more stability and yield generation.
The stablecoin uses the ERC-20F standard, which builds on the common ERC-20, with enhanced features like role-based access control for additional KYC/AML capabilities. OpenZeppelin audited the smart contracts and found no critical, high, or medium severity issues. This technical foundation provides institutional-grade security, while maintaining transparency through publicly available source code on Polygonscan.
For distribution, EUROD serves both retail and institutional users. Individuals and small businesses can access tokens through partner exchanges. Meanwhile, large companies, banks, and investment firms can work directly with ODDO BHF for larger transactions. This approach allows for broad market access while also maintaining compliance requirements.
🟪 The big picture: In Europe, MiCA regulation taking full effect has created clear frameworks for stablecoin issuance. As a result, launches like EUROD show how European financial institutions are building euro-denominated alternatives to USD stablecoins, while leveraging Polygon’s infrastructure.
Polygon also hosts Germany’s NRW.BANK blockchain bonds and Spain’s BeToken equity tokens. Now, ODDO BHF adds euro stablecoins to this growing ecosystem of compliant digital assets. Recently, the Swiss institution, AMINA Bank, became the first regulated bank globally to offer institutional staking for POL tokens, providing up to 15% rewards through a partnership with the Polygon Foundation.
The network also hosts other non-USD international stablecoins for currencies such as the Brazilian Real, Singapore Dollar, Turkish Lira, Swiss Franc and other Euro-based tokens. In September, the network’s non-USD stablecoins saw $72.97 million in volume and over 83,000 transfers, according to the Token Relations Polygon Dashboard data.
The rising adoption across these activations shows how Polygon is a preferred infrastructure for regulated financial products in the region.
Looking ahead, EUROD could accelerate euro-denominated DeFi activity on Polygon as users gain access to stable euro liquidity without traditional banking friction. This creates opportunities for European businesses to adopt blockchain payment rails while staying within familiar currency and regulatory frameworks.
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Ecosystem Showcase
Watch the NYSE interview with Polygon Foundation CEO Sandeep Nailwal discussing the Rio upgrade, RWA tokenization and more
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.
Pretty interesting :)