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Nine European Banks Plan Launch of Euro-Denominated Stablecoin

Nine European Banks Plan Launch of Euro-Denominated Stablecoin

Nine major European banks, including ING, UniCredit, and CaixaBank, are collaborating on the launch of a euro-backed stablecoin, expected in 2026, to reduce reliance on U.S. dollar-backed assets.

Fact Check
The statement is directly confirmed by a primary source, a press release from ING (one of the banks involved), which explicitly states that nine major European banks have joined forces for this purpose. This is corroborated by multiple other sources which name the banks and confirm the plan to launch a euro-denominated stablecoin.
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Summary

Nine leading European banks, including ING, UniCredit, and CaixaBank, announced plans to jointly issue a euro-denominated stablecoin compliant with EU MiCAR regulations by late 2026. The stablecoin aims to become a trusted European payments standard, enabling near-instant, low-cost transactions around the clock.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency pegged to a stable asset such as fiat currency to minimize price volatility.
  • Euro-Denominated Stablecoin: A stablecoin backed by the euro, designed to maintain a one-to-one value with the currency and facilitate transactions in European markets.
  • MiCAR Regulations: The EU's regulatory framework for crypto-assets, designed to ensure the safe and effective use of digital currencies across Europe.