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Europe's banks start initiative for euro-denominated stablecoin!
Nine European banks plan a euro-denominated stablecoin for 2026 to deal with the dominance of American stable coins.
Europe's banks start initiative for euro-denominated stablecoin!
Nine large European banks are planning the introduction of a euro-denominated stable coin, which is planned for the second half of 2026. This initiative was announced on September 25 and aims to create a trustworthy digital payment method based on blockchain technology. The banks involved include well -known institutes such as Ing, Unicredit, Danske Bank, Caixabank, Banca Sella, Dekabank, Seb and Raiffeisen Bank International. The new company is founded in the Netherlands and is intended to strive for a license as an e-money institute from the Dutch central bank in order to meet the regulatory requirements.
The planned properties of the stable coin will meet the regulations of the markets in Crypto-Assets Regulation (Mica), which come into force in December 2024. Stablecoin should not only be a means of payment, but also help to counteract the dominance of US banks in the area of dollar-supported stable coins.
Regulatory framework and goals
With the introduction of the euro-denominated stable coin, the European banks strategically position themselves in the growing market of digital currencies. Floris Lugt, Digital Assets Lead at ING, emphasizes the increasing importance of digital payments. He emphasizes that this StableCoin will contribute to the financial market infrastructure, especially in relation to new euro-denominated payments.
With this step, the banks not only pursue economic, but also strategic goals. The mica rules offer a robust regulatory framework that should strengthen the basis for the security and trust of users. In a rapidly developing environment for digital currencies, this common stable coin could become the key to further innovative strength in Europe in the financial sector.
The establishment of a new company that consists of several financial actors shows the commitment of these banks to gain a significant influence in digital payment transactions and to set new standards for marchcoins in Europe. This initiative could have far -reaching effects in the way payments are handled in Europe and promote the acceptance of digital currencies in the long term.
As reports Crypto News, these developments represent a significant step in the modernization of the European financial system by using the advantages of digital currencies and at the same time livering the regulatory expectations.