Nine European banks collaborate to unveil stablecoin
26 September 2025 Germany, Netherlands, Denmark, Italy
Image: GG Kenji/stock.adobe.com
Several European banks have partnered to establish a Markets in Crypto-Assets Regulation (MiCAR)-compliant euro-denominated stablecoin.
The banks involved are ING, Banca Sella, KBC, Danske Bank, Deka Bank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International.
According to the group of banks, the digital payment tool will deliver 24/7 entry to cross-border payments, programmable payments, and improvements in supply chain management and digital asset settlements, which can vary from securities to cryptocurrencies.
The MiCAR regulation will regulate the stablecoin which is set to be issued in the second half of 2026.
The stablecoin consortium, composed of the nine banks, has established a new firm in the Netherlands that intends to be licensed and supervised by the Dutch Central Bank as an e-money institution.
A CEO is expected to be appointed in the near future, subject to regulatory approval.
The initiative will give a real European alternative to the US-dominated stablecoin market, contributing to Europe’s strategic autonomy in payments.
According to the banks, individual banks will be able to provide stablecoin wallet and custody services.
Floris Lugt, digital assets lead at ING, comments: “Digital payments are key for new euro-denominated payments and financial market infrastructure.
“They offer significant efficiency and transparency, thanks to blockchain technology’s programmability features and 24/8 instant cross-currency settlement.
“We believe this development requires an industry-wide approach, and it’s imperative that banks adopt the same standards.”
The banks involved are ING, Banca Sella, KBC, Danske Bank, Deka Bank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International.
According to the group of banks, the digital payment tool will deliver 24/7 entry to cross-border payments, programmable payments, and improvements in supply chain management and digital asset settlements, which can vary from securities to cryptocurrencies.
The MiCAR regulation will regulate the stablecoin which is set to be issued in the second half of 2026.
The stablecoin consortium, composed of the nine banks, has established a new firm in the Netherlands that intends to be licensed and supervised by the Dutch Central Bank as an e-money institution.
A CEO is expected to be appointed in the near future, subject to regulatory approval.
The initiative will give a real European alternative to the US-dominated stablecoin market, contributing to Europe’s strategic autonomy in payments.
According to the banks, individual banks will be able to provide stablecoin wallet and custody services.
Floris Lugt, digital assets lead at ING, comments: “Digital payments are key for new euro-denominated payments and financial market infrastructure.
“They offer significant efficiency and transparency, thanks to blockchain technology’s programmability features and 24/8 instant cross-currency settlement.
“We believe this development requires an industry-wide approach, and it’s imperative that banks adopt the same standards.”
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