Citi Joins European Consortium to Launch MiCA-Compliant Euro Stablecoin

Citigroup has aligned with nine major European banking institutions to develop a regulated euro-denominated stablecoin, marking a strategic push into blockchain-based financial solutions. The initiative, led by a newly established Dutch entity, targets a 2026 launch and positions itself as a European counterweight to the dollar-dominated stablecoin market.

The consortium includes ING Group, UniCredit, and DeKa Bank among its members, with Citi standing as the sole non-European participant. This collaboration underscores growing institutional interest in compliant digital assets ahead of MiCA regulations taking full effect.

Parallel to this effort, Citigroup maintains involvement in separate digital currency explorations with Wall Street counterparts including Goldman Sachs and Bank of America. The bank's venture arm has recently made strategic investments in stablecoin infrastructure, signaling broader ambitions in the digital asset space.