European Banks to Develop Euro Stablecoin by 2026
- UniCredit and ING will launch a euro stablecoin.
- Launch planned for H2 2026 under MiCAR.
- Consortium forms new company for project.
UniCredit, ING, and seven major European banks have confirmed plans to jointly launch a regulated euro stablecoin through a newly formed consortium, aiming for issuance in H2 2026 under Dutch regulation.
The euro stablecoin initiative seeks to create a European payment standard, potentially reducing reliance on dollar-backed stablecoins and promoting transparency and efficiency within the financial sector.
Nine major European banks, including UniCredit and ING, plan to jointly launch a regulated euro stablecoin. The implementation is targeted for H2 2026, aligning with the MiCAR regulation framework. A new company will be established and licensed in the Netherlands.
The involved banks aim to establish a European payment standard and reduce reliance on US-dollar stablecoins. UniCredit, ING, and seven additional banks form the initiative, underscoring the project’s collaborative nature and emphasizing regulation compliance.
The euro-backed stablecoin expects to impact financial markets by offering an alternative to US-backed stablecoins. The European banking sector anticipates improved payment systems and the reduction of currency reliance within the region’s financial infrastructure.
While the project is anticipated to have wide-ranging financial effects, it will also potentially diminish existing cost burdens within traditional systems. The political implications highlight a push for financial sovereignty within Europe, minimizing dependency on foreign currencies.
“Digital assets have the power to transform the financial landscape — not just by introducing new forms of money, but by unlocking meaningful efficiencies and savings for both the financial sector and customers. At Danske Bank, we believe this evolution must be driven by collaboration and shared standards across the industry. We are proud to be part of this initiative, working alongside other leading European banks to build a trusted, MiCAR-compliant stablecoin that supports innovation, transparency and actively seeks out pain points, such as inefficiencies, frictions and cost burdens, that this technology can help resolve.” – Flaminia Lucia Franca, Head of Transaction Banking, Danske Bank
The launch could reshape current dynamics within the stablecoin ecosystem, offering allies to European nations. Compliance with EU regulations signals a potential shift towards fintech innovation in the region.
Drawing on historical data, this move may encourage further cross-border financial collaborations in Europe. Analysts predict technological advancements might facilitate programmable payments, leveraging insights from JPM Coin’s impacts. The regulatory-first approach ensures thorough compliance and sector transformation.
