Archax brings perpetual tokenised government bill product to Eurozone
Archax has launched €GOVY, a euro-denominated perpetual tokenized government bill product, on the Stellar network to provide institutional investors with 24/7 on-chain exposure to short-dated euro-area sovereign debt. This product utilizes an auto-roll mechanism that automatically reinvests proceeds from maturing bills, eliminating the need for manual redemption or reinvestment cycles. Designed as HQLA Level 1-aligned working collateral, €GOVY allows European institutions to hold, transfer, and pledge assets as an alternative to traditional euro cash. The launch follows Archax's recent authorization by Spain's CNMV, enabling the firm to provide regulated investment services across the EU and EEA. By expanding its GOVY suite beyond the existing dollar-denominated version, Archax aims to support multi-currency treasury management for professional clients. The integration with the Stellar network facilitates seamless movement between euro stablecoins and tokenized government debt. This development signifies a growing institutional demand for liquid, yield-bearing, and regulatory-compliant on-chain collateral within the European financial ecosystem.