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European Banks Launch Euro Stablecoin for Instant Payments

9/26/2025

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Summary

Story summary

Nine European banks, including ING and UniCredit, plan to launch a euro-denominated stablecoin by the second half of 2026.
It aims to offer a European alternative to US dollar-backed stablecoins, enabling near-instant, low-cost cross-border and programmable payments.
The consortium has formed a Netherlands-based company, supervised by the Dutch Central Bank, to run the project under Markets in Crypto-Assets Regulation (MiCA).

History

Historical Context

In 2014, the European Central Bank initiated a quantitative easing program, injecting over €2 trillion to stabilize the eurozone economy. The recent collaboration among nine banks, including ING and UniCredit, to develop a euro-denominated stablecoin aims to reduce reliance on the US dollar in digital transactions, potentially transforming cross-border payments and enhancing economic sovereignty within the European Union.

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Story summary

Nine European banks, including ING and UniCredit, plan to launch a euro-denominated stablecoin by the second half of 2026.
It aims to offer a European alternative to US dollar-backed stablecoins, enabling near-instant, low-cost cross-border and programmable payments.
The consortium has formed a Netherlands-based company, supervised by the Dutch Central Bank, to run the project under Markets in Crypto-Assets Regulation (MiCA).

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