ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International (RBI) have announced the launch of a euro-denominated stablecoin, in accordance with MiCAR regulations. The new digital currency will enable nearly instant payments and settlements with reduced costs.
Benefits of the Digital Currency
The stablecoin will provide 24/7 access to efficient cross-border payments, programmable payments, and will facilitate supply chain management and settlement of digital assets, from securities to cryptocurrencies. It is regulated under the EU’s “Markets in Crypto-Assets” (MiCAR) framework and is expected to be issued in the second half of 2026.
The consortium has established a company in the Netherlands, which will be licensed and supervised by the Dutch Central Bank as an e-money issuing institution. Other interested banks can join, and a CEO appointment is planned, subject to regulatory approval.
A European Alternative to U.S. Stablecoins
The initiative aims to provide a European alternative to the U.S.-dominated stablecoin market and support Europe’s strategic autonomy in payments. The consortium will offer value-added services, including a Stablecoin Wallet and custody.
“Stablecoins represent an important pillar of our digital asset strategy. We believe they have the potential to transform internal processes and provide our clients with faster, more cost-efficient transactions and payment options. We joined this consortium because we are convinced of the advantages of multiple banks issuing stablecoins. By leveraging our networks, consolidating resources, distributing risks, and improving liquidity, we can create an ecosystem that captures the opportunities offered by the European MiCAR,” said Johann Strobl, CEO of RBI.
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