Spanish lender BBVA joins EU banks' stablecoin venture to challenge digital dollars

Spanish lender BBVA has announced its decision to join a collaborative initiative involving several European banks that focuses on the development and implementation of a stablecoin, aiming to directly compete with the growing influence of digital dollar currencies. This venture reflects BBVA's commitment to innovating within the financial technology space and signifies a strategic move to enhance its presence in the digital currency landscape, as banks across Europe seek to create a stable alternative to existing digital currencies pegged to the U.S. dollar. By participating in this joint effort, BBVA aims to provide its customers with greater access to seamless digital transactions while also addressing the challenges posed by the dominance of the digital dollar in global financial markets. source: https://www.coindesk.com/business/2026/02/04/spanish-lender-bbva-joins-eu-banks-stablecoin-venture-to-challenge-digital-dollars