NewsBTC

26 September 2025

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Nine European Banks Form Consortium to Launch Euro Stablecoin in 2026

On September 25, 2025, a consortium of nine European banks announced the creation of a euro-backed stablecoin, with plans to launch in the second half of 2026. The new entity will be based in the Netherlands.

• Banks involved include UniCredit, ING, DekaBank, Banca Sella, KBC Group, Danske Bank, SEB, CaixaBank, and Raiffeisen Bank International.
• The initiative aims to reduce the dominance of USD-backed stablecoins like $USDT and $USDC.
• Stablecoins are considered by some European leaders as crucial for EU financial sovereignty and digital payments control.
• The EU's MiCA regulation provides a clear framework for stablecoin issuance, supporting this initiative.

European officials have expressed support:

• Floris Lugt from ING highlighted benefits in cross-border payments and supply chain improvements.
• Joachim Nagel of ECB emphasized its importance for financial sovereignty.
• Francois Villeroy de Galhau warned against reliance on dollar-backed stablecoins.

The stablecoin market is projected to handle $100T–$200T in annual payments by 2030.