Nine Major Banks Plot Euro Stablecoin Launch Under MiCA Framework

Traditional finance giants finally wake up to crypto's potential—nine banking heavyweights announce plans to launch a euro-pegged stablecoin under Europe's new MiCA regulations.

The Regulatory Gambit

These institutions aren't just dipping toes—they're diving headfirst into digital assets. MiCA's framework gives them the regulatory clarity they've been craving, allowing them to build a compliant euro stablecoin that could challenge existing players.

Banking's Crypto Awakening

Forget tentative experiments—this consortium means business. They're leveraging their combined infrastructure to create a digital euro that could streamline cross-border payments and settlement. Finally catching up to technology that's been running circles around them for years.

The Institutional On-Ramp

This isn't just another stablecoin—it's a bridge between traditional finance and decentralized ecosystems. The banking consortium's move signals that digital assets are becoming unavoidable, even for the most conservative institutions. About time they realized money movement shouldn't require three business days and a fax machine.

Market Implications

Watch for ripple effects across both crypto and traditional finance sectors. A bank-backed euro stablecoin could bring massive liquidity while forcing existing stablecoin issuers to up their compliance game. The irony? Banks now racing to replicate what crypto pioneers built years ago.

The dawn of euro stablecoins?

This is not the first time the financial services industry has decided to launch a euro stablecoin. Societe Generale-FORGE had already beaten the group to the punch by launching the euro-pegged EUR CoinVertible or EURCV back in April 2023. The token is said to be a MiCA-compliant stablecoin on the solana (SOL) network.

At the moment, euro stablecoins contribute $637 million of the total stablecoin market cap. Circle’s EURC (EURC) leads the charge with $259.67 million and a trading volume of $42 million in the past 24 hours. Meanwhile, in second place is EURS (EURS) with a market cap of $144.93 million. EURCV stands in third place with a market cap of $65.99 million.

Back in July 2025, Schuman Financial founder Martin Bruncko said that the rise of euro stablecoins is “inevitable.” Bruncko predicted that euro stablecoins is poised to surpass €100 billion ($117.4 billion) in market cap, and potentially reach €1 trillion ($1.17 trillion), despite currently lagging behind U.S. dollar-pegged stablecoins.