European Banks, Including ING and UniCredit, Develop Euro Stablecoin

Nine European banks, including the Netherlands’ ING and Italy’s UniCredit, are collaborating to develop a euro-denominated stablecoin under the European MiCA (Markets in Crypto-Assets) regulation. The project is planned for launch in the second half of 2026.

The initiative aims to create a European digital payment standard, providing a local alternative to U.S.-based stablecoins and supporting the EU’s strategic autonomy in payments.

Alongside ING and UniCredit, the project involves Spain’s CaixaBank, Denmark’s Danske Bank, Austria’s Raiffeisen Bank International, Belgium’s KBC, Sweden’s SEB, Germany’s DekaBank, and Italy’s Banca Sella. The founding members have established a new company, headquartered in the Netherlands, to oversee the development and management of the stablecoin.

According to the joint statement, the euro stablecoin will be issued in compliance with MiCA standards, ensuring clear regulations regarding security, transparency, and European legal compliance. The initiative reflects the European banks’ efforts to integrate regulated digital currencies into the payments system and to meet the growing demand for digital payment instruments in the eurozone.