Earlier today, nine European banks announced plans for a joint venture to issue a stablecoin. The banks are: Banca Sella, CaixaBank, Danske Bank, DekaBank, ING, KBC, Raiffeisen Bank International, SEB and UniCredit. Their aim is to issue a joint stablecoin rather than individual standardized stablecoins from each bank. The joint venture will apply to the Dutch Central Bank for a MiCA license as an electronic money token issuer.
Ledger Insights discussed the initiative’s background and objectives with ING’s Floris Lugt, the Digital Assets Lead at ING Wholesale Banking. Dekabank also added some views via email.
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