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ING, UniCredit, and seven others to develop a euro stablecoin
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Project aims for launch in 2026 under EU’s MiCA framework
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Managed by a new company in the Netherlands
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Goal is to provide a European alternative to U.S.-backed stablecoins
Consortium forms stablecoin project
Nine major European banks, including ING, UniCredit, and Danske Bank, have partnered to develop a euro-pegged stablecoin. The group has set up a company in the Netherlands to manage the project.
Regulation and launch timeline
The stablecoin will be issued under the EU’s MiCA regulations, which govern crypto assets across the bloc. The banks expect to launch the token in the second half of 2026, pending approval from the Dutch Central Bank.
Strategic goal for Europe
Officials said the aim is to create a “trusted European payment standard” that provides an alternative to the U.S.-dominated stablecoin market. They believe the project will boost Europe’s financial independence in digital payments.
Rising stablecoin demand
Stablecoins are becoming more widely used worldwide. U.S. stablecoin supply recently topped $280 billion, while euro-pegged stablecoins remain relatively small at around $319 million on Ethereum. The new initiative could significantly expand Europe’s share of the market.
