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  • 25 Sep 25

Nine European Banks Launch Euro Stablecoin Under MiCA

Nine of Europe’s largest banks have announced the creation of a joint euro stablecoin. The instrument will be regulated under MiCA rules and is scheduled for release in the second half of 2026.

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According to media reports, ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International have joined the initiative. The new digital instrument will serve as a payment standard in Europe, operating on blockchain and licensed as electronic money in the Netherlands.

Europe’s Answer to Dollar Stablecoins

The project aims to reduce the region’s dependence on American stablecoins and strengthen Europe’s strategic autonomy in the payments sector. According to the banks’ representatives, the new instrument will enable instant and low-cost transactions, round-the-clock access to cross-border payments, programmable transfers, and increased efficiency in supply chain management and digital asset settlements.

Structure and Regulation

It was reported that a new company has been established in the Netherlands to launch the project. It will be licensed and supervised by the Dutch Central Bank as an electronic money issuer. The first tokens are expected to be issued in the second half of 2026. The consortium is open to other banks joining the initiative. A CEO will be appointed soon, with the candidate subject to regulatory approval.

Opportunities for Clients

It is expected that individual banks will be able to offer clients additional services, including custodial solutions and stablecoin wallets. In this way, users will gain a full infrastructure for storing and using the digital euro.

“Digital payments are key for new euro settlements and financial market infrastructure. They provide transparency and efficiency thanks to blockchain programmability and 24/7 instant settlements. We believe success requires an industry-wide approach and common standards,” said Floris Lugt, Head of Digital Assets and consortium representative at ING.

Earlier this year, media reported that ING was developing a stablecoin project with several banks. Now the initiative has been confirmed in the form of a broad coalition.

Government Project for the Digital Euro

In parallel with banking initiatives, the digital euro is also being developed at the state level. According to the Financial Times, discussions in Europe accelerated after the US Congress approved the GENIUS Act in July, which regulates the $288 млрд stablecoin market.

This step raised concerns among European regulators about the competitiveness of the euro and gave new momentum to the European Central Bank’s digital currency project, which had previously remained at the stage of preliminary discussions.

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This post is for informational purposes only and is not advertising or investment advice. Please do your own research before making any decisions.

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