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Major European Banks Plan Joint Euro Stablecoin Launch in 2026
Major European Banks Plan Joint Euro Stablecoin Launch in 2026
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BTCCSquare news:
Nine leading European banks, including ING, UniCredit, and Danske Bank, have formed a consortium to launch a euro-denominated stablecoin by the second half of 2026. The initiative, backed by a newly established Dutch company, aims to comply with the EU's Markets in Crypto-Assets Regulation (MiCA) and provide a blockchain-based digital payment solution.
The MOVE mirrors U.S. banks' push into stablecoins following the GENIUS Act, signaling a competitive race for dominance in the regulated digital currency space. The consortium seeks a Dutch Central Bank e-money license, positioning the euro stablecoin as a trusted alternative to dollar-pegged counterparts.
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