Nine major European banks joined forces to launch an euro-denominated stablecoin controlled under the trading block markets in the crypto (MICA) assets regime.
The giant banking involved are: ING, Banca Sella, KBC, Danske Bank, Dekabank, Unicredit, Seb, Caixabank and Raiffeisen Bank International.
Earlier this year, CoinDesk reported The Dutch Bank Ing is working on a Stablecoin project with several other financial institutions.
Nine bank -supported bank -supported payments, leveraging blockchain technology, aim to be a reliable European payment standard in the digital ecosystem, according to a press release on Thursday.
The initiative will provide a real alternative to Europe to the US Stablecoin market, which contributes to European autonomous autonomy with payments, banks said.
Stablecoin will provide closely to instant, cheap transactions and enable 24/7 access to good cross-border payments, programmed payments, and improvements in chain management and digital asset repairs, banks said in a joint statement.
Mica-Regulated Stablecoin is expected to be first released in the second half of 2026.
The Stablecoin Consortium, along with the aforementioned banks as Founding members, has been formed by a new company in the Netherlands, aimed at being licensed and administered by the Dutch Central Bank as an E-Pra institution. The consortium is open to additional banks to join. It is expected that a CEO will be appointed in the near future, subject to regulatory approvement.
Individual banks can provide the amount of extra services, such as a stablecoin purse and caution.
“Digital payments are key for new Euro-denominated payments and financial infrastructure. They offer significant efficiency and transparency, thanks to Blockchain technology and 24/7 Instant Cross-Currency Programmability. We believe that this development requires a whole industry, and the need for the Bank of Both Standards,” According to Floris Lugt, digital properties led to the claim and joint representative of the accusation.
Earlier this week, French Bank Socgen’s Forge subsidiary, Which was the first large bank to launch an Euro Stablecoin under MICA, announced that the USD-denominated Stablecoin USDCV chose Bullish Europe as the first place to list the token.
