Nine European banks plan to jointly launch MiCA-compliant euro stablecoin

Nine European banks, including ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International, have announced the formation of a new company with plans to issue a Euro-denominated stablecoin regulated by MiCA in the second half of 2026. The company will apply for an electronic money institution license from the Dutch central bank, aiming to establish itself as the European digital payments standard and open it up to more banks. The stablecoin will support low-cost, near-real-time cross-border payments and digital asset settlement. (CoinDesk)