Breaking: Nine Major European Banks to Launch MiCA-Compliant Euro Stablecoin in 2026

Europe's banking giants are finally embracing crypto—on their own terms.

The Institutional Takeover Begins

Nine heavyweight European financial institutions just revealed plans to launch a MiCA-regulated euro-pegged stablecoin. They're not just dipping toes in digital waters—they're building their own ocean.

Regulatory Chess Move

The 2026 timeline gives these banks a strategic runway to navigate MiCA's compliance maze while positioning themselves as the 'safe' alternative to existing stablecoins. Because nothing says innovation like waiting for permission slips from regulators.

The Digital Euro Race Heats Up

This consortium-backed stablecoin could potentially challenge both private stablecoin issuers and the ECB's digital euro project. Banks finally realized they can't fight decentralization—so they're trying to co-opt it.

Traditional finance's latest attempt to stay relevant in the crypto revolution. Because if you can't beat 'em, regulate 'em—then join 'em with a government-approved version.

Banks Form Dutch Consortium for Euro Stablecoin

The group has formed a Dutch-based company that will apply for an e-money license supervised by the Dutch Central Bank. The stablecoin is expected to be issued in the second half of 2026. Subject to regulatory approval, a CEO will be appointed.

The token is designed to provide instant, low-cost transactions, 24/7 cross-border payments, programmable settlement, and applications in digital assets and supply chain management. Banks may also offer wallets and custody services.

Strategic Context, Market Share, and Expert Views

The consortium seeks to create a European alternative to US dollar stablecoins, which dominate over 99% of the global market. The European Central Bank has warned that MiCA may be too lenient, while the European Commission is preparing to loosen rules, raising tension with regulators.

EU officials have also warned that unchecked US tokens could undermine euro stability.

Competition is rising. Société Générale’s Forge has already launched a euro stablecoin on stellar and recently listed its dollar-pegged USDCV on Bullish Europe.

According to CoinGecko data, the euro stablecoin market remains fragmented: EURC controls 47%, STASIS EURO 26%, and CoinVertible 9%. The combined capitalization is still below €350 million, highlighting its small scale relative to dollar-based tokens.

“MiCA is promising, but the framework remains incomplete, especially on cross-border issuance,” an expert told BeInCrypto in February.

Another BeInCrypto analysis found that despite new projects, euro-denominated stablecoins remain marginal. In an ECB blog, senior adviser Jürgen Schaaf wrote that “European monetary sovereignty and financial stability could erode” without a strategic response. He added that the disruption also offers “an opportunity for the euro to emerge stronger.”

ECB President Christine Lagarde has called for stricter oversight of non-EU issuers, tying the debate to Europe’s digital euro push as the US advances its GENIUS Act legislation.

“Digital payments are key for euro-denominated financial infrastructure,” ING’s Floris Lugt said, emphasizing the need for industry-wide standards.