European financial institutions join forces to achieve digital independence through a stablecoin governed by MiCA regulations

A group of nine leading European banks has unveiled a joint plan to introduce a euro-pegged stablecoin, which will be regulated under the European Union’s Markets in Crypto-Assets (MiCA) rules. The stablecoin, expected to launch in the latter half of 2026, is intended to provide a European alternative to the U.S.-centric stablecoin sector and boost the continent’s independence in digital payments. The alliance features

, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International. These institutions have established a new company in the Netherlands to manage the stablecoin’s rollout and are seeking e-money institution licensing from the Dutch Central Bank Nine European banks join forces to issue MiCA-compliant euro stablecoin [ 1 ].

Built on blockchain, the stablecoin will facilitate rapid, low-fee transactions and enable round-the-clock cross-border payments. It will also allow for programmable payments and digital asset settlements, including both securities and cryptocurrencies, as outlined in a joint statement from the banks. This effort supports Europe’s broader ambitions to reinforce financial independence and lessen dependence on foreign stablecoins. “Digital payments are crucial for new euro-based payment systems and financial infrastructure,” said Floris Lugt, digital asset lead at ING. “Unified standards and trust can only be achieved through collaboration among European institutions” Nine European Banks to Launch MiCA Euro Stablecoin: Here's the timeline [ 2 ].

Ensuring regulatory adherence is a cornerstone of the initiative. MiCA mandates that stablecoins maintain full reserves in liquid assets, undergo frequent audits, and secure authorization as electronic money institutions (EMIs). The new entity formed by the consortium will comply with these standards, prioritizing transparency and consumer safety. Oversight by the Dutch Central Bank will further bolster the stablecoin’s trustworthiness. The group is also open to welcoming more banks to expand the project’s reach within the EU UniCredit, ING Among 9 Banks Launching Euro Stablecoin [ 3 ].

The stablecoin’s advantages go beyond payments. It is projected to optimize supply chain processes, enhance efficiency in international transactions, and lower costs for both businesses and consumers. Fiona Melrose, UniCredit’s Head of Group Strategy and ESG, highlighted the project’s ability to meet the rising demand for blockchain-based payment solutions and foster economic progress. “This initiative gives Europe a competitive edge in the rapidly changing digital finance sector,” she remarked Euro Stablecoin: ING, UniCredit, and Banks Launch 2026 Plan [ 4 ].

The roadmap for the stablecoin’s release involves obtaining regulatory clearances and appointing a CEO by the end of 2025. Over the next year and a half, the consortium will tackle technical and operational hurdles, such as merging blockchain systems with current financial infrastructure. Widespread adoption will rely on partnerships with merchants and payment providers, as well as proving clear benefits over conventional payment options. If the project succeeds, it could transform Europe’s digital payments landscape and set a precedent for similar initiatives worldwide Euro Stablecoin Launch 2026 Gains MiCA Approval [ 5 ].

This initiative also mirrors larger shifts in the EU’s approach to crypto regulation. MiCA’s stringent standards have already resulted in the removal of non-compliant stablecoins, such as Tether’s

from major trading platforms. Conversely, MiCA-approved options like and EURC have seen increased adoption, underscoring the value of regulatory compliance. The euro-backed stablecoin from the consortium aims to fill this gap, providing a reliable and transparent solution for users across Europe Which stablecoins are MiCA-compliant in the EU? [ 6 ].