Oddo BHF SCA, a Paris-based financial group, is developing a euro-denominated stablecoin in collaboration with crypto technology firm Fireblocks. The initiative aims to enter the competitive stablecoin market. The launch is expected next year, subject to regulatory approval.

Oddo BHF SCA is working on a euro-denominated stablecoin, people familiar with the matter said, an initiative that would bring it into an increasingly crowded market. The Paris-based financial group has been working with crypto technology firm Fireblocks on developing the instrument, the people said, asking not to be named as the plans are private. Oddo expects to launch the token next year, pending regulatory approval, they said. 

Oddo BHF SCA Plans Euro-Denominated Stablecoin Launch with Fireblocks