Financial Group Oddo Plans Foray Into Swelling Stablecoin Market
- Oddo is working with Fireblocks on creating new stablecoin
- Robinhood, Revolut among other firms entering the field
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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.