Nine major European banks have united their forces to launch a stable coin in euros regulated under the commercial block markets (MICA).
The banking giants involved are: ING, Banca Sella, KBC, Danske Bank, Dekabank, Uniredit, Seb, Caixabank and Raiffeisen Bank International.
Earlier this year, Coindesk said that the Dutch bank was working on a Stablecoin project with certain other financial institutions.
The digital payment instrument at nine banks, taking advantage of Blockchain technology, aims to become a European payment standard for trust in the digital ecosystem, according to a press release on Thursday.
The initiative will provide a real European alternative to the American predominance stable market, contributing to the strategic autonomy of Europe in payments, banks said.
The Stablecoin will provide close and low -cost transactions and will allow 24/7 access to effective cross -border payments, programmable payments and improvements in supply chain management and digital asset establishments, banks said in a joint declaration.
Regulated Mica stablecoin should be published for the first time in the second half of 2026.
The Stablecoin consortium, with the banks aforementioned as founding members, has trained a new company in the Netherlands, aimed at being authorized and supervised by the Dutch Central Bank as an online institution. The consortium is open to additional banks. A CEO should be appointed in the near future, subject to regulatory approval.
Individual banks will be able to provide value -added services, such as a portfolio and a stablecoin guard.
“Digital payments are essential for new payment and financial market infrastructure in euros.
Earlier this week, the forgen subsidiary of French Bank Socgen, which was the first big bank to launch a stablecoin euro under Mica, announced that its USDCO of Stable worded by the USD had chosen upward Europe as the first place to list the token.
