Major European Banks Plan Euro Stablecoin Launch by 2026
- Major European banks, including ING, Danske Bank, UniCredit, and CaixaBank, plan to launch a euro-pegged stablecoin under the EU’s MiCA framework.
- The stablecoin aims for compliance with MiCA regulations and is expected to be issued in the second half of 2026.
- This initiative seeks to establish a trusted European payment standard and reduce reliance on US-dominated stablecoins.
- The consortium has created a company in the Netherlands to manage the stablecoin's development.
- It promises near-instant, low-cost payments and settlements with 24/7 access for cross-border transactions.
- The stablecoin will also enable programmable payments and enhance supply chain management and digital asset settlement processes.
- Meanwhile, the EU’s digital euro project, possibly launching by 2029, contrasts with earlier projections of a 2025 release.
