Is This the Euro’s Game-Changer? Nine Top Banks Team Up to Unleash a Stablecoin That Could Rewrite Finance Forever
Ever wonder what happens when nine major European banks decide to team up and shake up the financial world? Well, they’re launching a euro-denominated stablecoin—a digital currency designed to keep its value steady, unlike the wild swings you see with Bitcoin or other cryptos. This move, spearheaded by banking giants like ING and UniCredit and anchored in the Netherlands, isn’t just a flashy tech stunt; it’s a strategic play to slash euro transfer costs and accelerate the adoption of blockchain-backed finance across Europe. With the EU’s Markets in Crypto-Assets (MiCA) framework now fully in effect, this consortium is positioning itself right at the heart of regulatory clarity and innovation. Now, the question is—could this be the dawn of a new era where traditional finance truly embraces the digital frontier? Let’s dive in and see how this bold bet might redefine the eurozone’s financial future. LEARN MORE
Banking giants leverage blockchain to slash euro transfer costs as euro-backed stablecoins gain rapid institutional traction across the region.
Photo: Carl Gruner
Key Takeaways
- Nine major European banks, including ING, Banca Sella, KBC, Danske Bank, and UniCredit, plan to launch a euro-denominated stablecoin.
- The consortium has been formed and is headquartered in the Netherlands, where it is seeking a license as an e-money institution supervised by the Dutch Central Bank.
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Nine European banks announced plans today to launch a euro-denominated stablecoin. The consortium includes major financial institutions ING, a Netherlands-based multinational bank, Banca Sella, KBC, Danske Bank, and UniCredit.
The stablecoin launch aligns with the EU’s Markets in Crypto-Assets (MiCA) framework, fully effective since December 2024.
Euro stablecoin trading volume has surged recently, reflecting rising institutional adoption amid increased demand for alternatives to USD-pegged assets.
Several of the participating banks have recently expanded their digital asset services. UniCredit launched crypto-related investment products linked to BlackRock’s Bitcoin ETF in mid-2025, while Banca Sella launched an internal pilot project in mid-2025 to test custody services for digital assets, including stablecoins, in collaboration with technology provider Fireblocks.
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