Nine leading European banking institutions have united to create a euro-pegged stablecoin fully compliant with the EU's Markets in Crypto-Assets (MiCA) regulatory framework. The consortium includes banking giants ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank and Raiffeisen Bank International.
This blockchain-based digital payment solution aims to establish a trusted European standard for digital transactions, offering near-instant settlements with minimal costs. The stablecoin will enable 24/7 cross-border payments, programmable transactions, and enhanced supply chain management capabilities.
Scheduled for launch in H2 2026, the initiative represents a strategic European alternative to US-dominated stablecoin markets. The consortium has established a new Netherlands-based company seeking licensing from the Dutch Central Bank as an e-money institution.
ING's digital assets lead Floris Lugt emphasized that blockchain technology provides unprecedented transparency and efficiency for euro-denominated payment infrastructure, requiring industry-wide standardization among financial institutions.