Nine European Banks to Launch MiCA-Compliant Euro Stablecoin by 2026

Nine major European banks, including UniCredit, ING, and DekaBank, are forming a consortium to introduce a euro-backed stablecoin under the EU's Markets in Crypto-Assets (MiCA) regulation. The initiative aims to challenge the dominance of U.S. dollar-pegged stablecoins, with a projected market cap potential of $1 trillion.

The venture will be headquartered in the Netherlands and plans to apply for an e-money license from the Dutch central bank. Launch is slated for H2 2026, with the consortium actively inviting additional banking partners to join.

Participating institutions span the continent, featuring Italy's Banca Sella, Belgium's KBC Group, and Austria's Raiffeisen Bank International. This coordinated effort marks a significant step toward institutional crypto adoption in Europe's regulated financial framework.