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European Banking Consortium to Launch Euro Stablecoin in Challenge to US Dollar Dominance
European Banking Consortium to Launch Euro Stablecoin in Challenge to US Dollar Dominance
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BTCCSquare news:
A coalition of nine major European banks—including ING, UniCredit, and Raiffeisen Bank International—has unveiled plans to issue a MiCA-compliant euro stablecoin by mid-2026. The initiative, headquartered in the Netherlands, marks Europe's most concerted effort to counter the hegemony of dollar-pegged stablecoins in cross-border payments and digital asset settlements.
The proposed stablecoin will feature 24/7 transaction capabilities, programmable payments, and enhanced supply chain utility. "Digital assets can redefine finance beyond new money forms—delivering tangible efficiencies for institutions and end-users," the consortium noted, though their statement was truncated.
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