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Nine European Banks Collaborate to Launch MiCA-Compliant Euro Stablecoin
Nine European Banks Collaborate to Launch MiCA-Compliant Euro Stablecoin
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BTCCSquare news:
Nine major European banks, including ING, Banca Sella, and UniCredit, have formed a consortium to issue a euro-denominated stablecoin regulated under the EU's Markets in Crypto-Assets (MiCA) framework. The initiative aims to establish a trusted European payment standard, offering near-instant, low-cost transactions and 24/7 cross-border payment capabilities.
The stablecoin, expected to launch in late 2026, seeks to challenge the US-dominated stablecoin market and enhance Europe's strategic autonomy in digital payments. French bank SocGen's Forge subsidiary has already pioneered a MiCA-compliant euro stablecoin, with its USD-pegged USDCV recently listed on Bullish Europe.
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