Nine European Banks Collaborate to Launch MiCAR-Compliant Euro Stablecoin

Nine major European banks—ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International—have formed a consortium to introduce a euro-denominated stablecoin compliant with the EU's Markets in Crypto-Assets Regulation (MiCAR). The initiative aims to establish a blockchain-based payment standard for the digital economy, offering near-instant, low-cost transactions and 24/7 cross-border settlements.

The stablecoin, slated for launch in late 2026, will enable programmable payments and streamline supply chain logistics while supporting digital asset settlements ranging from securities to cryptocurrencies. Headquartered in the Netherlands, the consortium seeks licensing as an e-money institution under Dutch Central Bank supervision. Additional banks may join the alliance, with a CEO appointment pending regulatory approval.

This effort positions Europe to challenge US dominance in the stablecoin market, advancing strategic autonomy in payments infrastructure. Participating institutions plan to offer value-added services like wallet integration and custody solutions, reinforcing the euro's role in digital finance.