Nine European Banks To Launch Euro Stablecoin To Rival Tether, Circle
Nine European banks, including ING and UniCredit, plan to launch a euro stablecoin in a move that may challenge the dominance of Tether and Circle. The new stablecoin will comply with the EU’s Markets in Crypto-Assets Regulation (MiCAR), which came into effect in June last year and has encouraged traditional banks to enter a space dominated by crypto companies. The banks behind the venture also include Banca Sella, KBC, Danske Bank, DekaBank, SEB, CaixaBank, and Raiffeisen Bank International. BREAKING: 🇪🇺 NINE MAJOR EUROPEAN BANKS TO LAUNCH A MICA COMPLIANT EURO STABLECOIN. pic.twitter.com/OjvolddNNo — Ash Crypto (@Ashcryptoreal) September 25, 2025 They aim to seek an electronic money institution licence from the Dutch central bank and invite other banks to participate. Launch is expected in the second half of 2026, giving it a head start over the European Central Bank’s plan for a “digital euro,” which is not expected until at least...