12 European banks jointly develop MiCA compliant euro stablecoin

A consortium of 12 European banks, led by Qivalis, has selected Fireblocks to provide infrastructure for the development of a euro-denominated stablecoin compliant with the MiCA regulatory framework. The stablecoin, planned for launch in the second half of 2026 and subject to approval from the Dutch Central Bank, will be backed 1:1 by euro reserves and issued electronically under Dutch regulation. It will primarily target institutional settlement, fund management, and asset tokenization. Fireblocks will provide tokenization, wallet, and compliance tools, including identity verification and sanctions screening capabilities. (Cointelegraph)