Banco Santander is considering euro and dollar-denominated stablecoins through its digital banking unit Openbank, aiming to enhance retail crypto services pending regulatory approvals.
Banco Santander SA is advancing plans to enter the stablecoin market and enhance retail crypto services via its digital banking unit Openbank. The bank is evaluating euro and dollar-pegged stablecoins, contingent upon regulatory approvals. This initiative reflects a broader trend of banks adopting digital assets and follows Santander's rise as continental Europe’s largest bank by market capitalization, surpassing UBS.