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Nine European Banks Unite to Launch Euro Stablecoin Under MiCA in 2026

A consortium of nine major European banks, including ING and UniCredit, plans to issue a euro-denominated stablecoin by late 2026, adhering to EU MiCA regulations and offering a European alternative to U.S.-based stablecoins.

Summary

A group of nine European banks, including ING, UniCredit, and others, announced plans to launch a euro-denominated stablecoin by 2026. Compliant with EU’s MiCA regulations, the stablecoin will facilitate low-cost, near-instant cross-border payments and offer a European alternative to U.S.-dominated stablecoins.

Terms & Concepts
  • Euro Stablecoin: A cryptocurrency pegged to the euro, designed to maintain a stable value and facilitate digital transactions in the European currency.
  • MiCA Regulations: EU’s Markets in Crypto-Assets framework, providing a comprehensive legal structure for crypto-assets, including stablecoins and service providers.
  • E-Money Institution License: Authorization allowing an entity to issue electronic money and provide payment services under regulatory supervision.