Nine major European banks have come together to launch a euro-denominated stableecoin regulated under the trade block’s markets in Crypto Assets regime (Mica).
The bank giants involved are: Ing, Banca Sella, KBC, Danske Bank, Dekabank, Unicredit, SEB, Caixabank and Raiffeisen Bank International.
Earlier this year, Coindesk reported that Dutch Bankt was working on a stablecoin project with some other financial institutions.
The nine bank-backed digital payment instrument utilizing blockchain technology is aiming to become a trusted European payment standard in the digital ecosystem, according to a press release on Thursday.
The initiative will provide a real European alternative to the US-dominated stablecoin market, contributing to Europe’s strategic autonomy in payments, banks said.
StableCOin will provide almost instant, make costs transactions and enable 24/7 access to effective cross -border payments, programmable payments and improvements in the supply chain and digital asset runs, the banks said in a joint statement.
The mica -controlled stableecoin is expected to be issued first in the second half of 2026.
The StableCOin Consortium, with the aforementioned banks as founding members, has formed a new company in the Netherlands with the aim of being licensed and monitored by the Dutch central bank as an e-money institution. The consortium is open to additional banks participating. A CEO is expected to be appointed in the near future subject to regulatory approval.
Individual banks will be able to provide value -added services, such as a stableecoin designer and custody.
“Digital payments are the key to new euro-denomined payments and infrastructure for financial market. They offer significant efficiency and transparency thanks to the programmability functions of the blockchain technology and 24/7 immediate cross-cutting currency settlement. assets that lead to and joint, and it is necessary.
Earlier this week, French Bank Socgen’s Forge-subsidiary announced the first major bank to launch a Euro stableecoin under Mica that its USD-denomined stableecoin USDCV had chosen Bullish Europe as the first place to indicate token.
