CoinDesk reported<\/a> that Dutch bank ING was working on a stablecoin project with some other financial institutions.<\/p>\nThe nine bank-backed digital payment instrument, leveraging blockchain technology, aims to become a trusted European payment standard in the digital ecosystem, according to a press release on Thursday.<\/p>\n
The initiative will provide a real European alternative to the US-dominated stablecoin market, contributing to Europe’s strategic autonomy in payments, the banks said.<\/p>\n
The stablecoin will provide near-instant, low-cost transactions and enable 24\/7 access to efficient cross-border payments, programmable payments, and improvements in supply chain management and digital asset settlements, the banks said in a joint statement.<\/p>\n
The MiCA-regulated stablecoin is expected to be first issued in the second half of 2026. <\/p>\n
The stablecoin consortium, with the aforementioned banks as founding members, has formed a new company in the Netherlands, aiming to be licensed and supervised by the Dutch Central Bank as an e-money institution. The consortium is open to additional banks joining. A CEO is expected to be appointed in the near future, subject to regulatory approval.<\/p>\n
Individual banks will be able to provide value added services, such as a stablecoin wallet and custody.<\/p>\n
“Digital payments are key for new euro-denominated payments and financial market infrastructure. They offer significant efficiency and transparency, thanks to blockchain technology’s programmability features and 24\/7 instant cross-currency settlement. We believe this development requires an industry-wide approach, and it’s imperative that banks adopt the same standards,” said Floris Lugt, digital assets lead at ING and joint public representative of the initiative.<\/p>\n
Earlier this week, French bank SocGen\u2019s Forge subsidiary,<\/a> which was the first big bank to launch a euro stablecoin under MiCA, announced that its USD-denominated stablecoin USDCV had chosen Bullish Europe as the first venue to list the token.<\/p>\n","protected":false},"excerpt":{"rendered":"Nine major european banks have joined forces to launch a euro-denominated stablecoin regulated under the trading block\u2019s Markets…\n","protected":false},"author":2,"featured_media":53825,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[288],"tags":[289,29718,71,29719,22489],"class_list":{"0":"post-53824","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-danske-bank","8":"tag-danske-bank","9":"tag-euro","10":"tag-europe","11":"tag-mica","12":"tag-stablecoin"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/53824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=53824"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/53824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/53825"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=53824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=53824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=53824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}