3 October 2025 – Amsterdam / Brussels: Nine leading European banks — including ING, UniCredit, SEB, CaixaBank, KBC, Danske, DekaBank, Banca Sella and Raiffeisen — have formed a consortium to issue a MiCAR-compliant euro-denominated stablecoin, marking a bold step toward European sovereignty in digital payments.
This new stablecoin aims to support near-instant, low-cost payments and settlements, operate 24/7 across borders, and enable programmable payments and asset settlement (e.g. digital securities). The consortium has incorporated a new entity in the Netherlands and intends to seek a license as an e-money institution under supervision of the Dutch central bank.
Set for a potential launch in the second half of 2026, the initiative is open to additional banks joining in. It is framed as a European alternative to US-dominated stablecoins and a cornerstone of payments infrastructure autonomy.
If successful, this could reshape the balance of power in digital payments. By bringing banks into stablecoin issuance, Europe signals that regulatory compliance, institutional backing, and financial credibility must combine with crypto-era innovation. Watch closely — this may redefine how banks, regulators, and consumers transact across the continent.
Source- ING
