Spain’s BBVA Joins European Bank Consortium for Euro Stablecoin Launch
BBVA has become the latest member of a European banking consortium aiming to launch a euro-pegged stablecoin by the second half of 2026. The group, initially formed in September 2025 with nine banks, now counts twelve financial institutions, including ING, BNP Paribas, and UniCredit, among its ranks.
The initiative seeks to challenge the dominance of USD-denominated stablecoins by creating a European alternative. Alicia Pertusa of BBVA emphasized the importance of interbank collaboration in driving financial innovation and establishing common standards for the future of banking.
BBVA, Spain’s second-largest bank by assets, brings its extensive experience in digital finance to the consortium. The MOVE underscores growing institutional interest in blockchain-based financial solutions as traditional banks increasingly engage with cryptocurrency ecosystems.
