Nine European banks will jointly issue a compliant Euro stablecoin

BlockBeats News, September 25th. Nine major European banks have joined forces to launch a Euro-denominated stablecoin bound by the EU's Markets in Crypto-Assets Regulation (MiCA). The banks participating in this Euro-denominated stablecoin project include: ING Group from the Netherlands, Banca Sella from Italy, KBC from Belgium, Danske Bank from Denmark, DekaBank from Germany, UniCredit from Italy, SEB from Sweden, CaixaBank from Spain, and Raiffeisen Bank International from Austria.

The participating banks stated that the initiative will provide a true European alternative to the U.S.-dominated stablecoin market and help enhance Europe's strategic autonomy in the payment sector. According to a joint statement, this stablecoin will enable almost instant, low-cost transactions and offer 24/7 efficient cross-border payments, programmable payments, supply chain management improvements, and digital asset settlement optimizations. The MiCA-compliant stablecoin is expected to be issued for the first time in the second half of 2026.