A group of European banks will create a regulated MiCAR stablecoin.
Date: 2025-09-26 Author: Henry Casey Categories: CRYPTO PAYMENTS
Nine leading European banks have agreed to launch a digital asset pegged to the euro and fully compliant with the MiCAR regulation. Its implementation is scheduled for the end of 2026, and the key objective of the initiative is to simplify international payments and strengthen the financial independence of the European Union.
The consortium includes ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International. A new company has been established to implement the project and has applied for an Electronic Money Institution (EMI) license in the Netherlands. The name of the company has not yet been disclosed, but it will be responsible for issuing the stablecoin. A company director is expected to be appointed after the project receives final regulatory approval.
The main idea is to offer a European alternative to US dollar-denominated stablecoins. This step will allow the EU to develop its own digital payments ecosystem and be independent of US solutions. Individual consortium members will also be able to offer additional services, such as cryptocurrency wallets.
Floris Lugt, Head of Digital Assets at ING, noted that digital payments are becoming the foundation for the transformation of the financial infrastructure in the eurozone. He emphasized that the use of blockchain technology offers significant advantages: transparency of transactions, the ability to instantly settle payments around the clock, and flexibility thanks to programmability. He emphasized that the future of the industry requires a unified approach and agreed-upon standards among banks.
A regulated euro-stablecoin, EURC, is already available on the market, courtesy of Circle, one of the first companies to receive a MiCAR license. The new project will directly compete with this asset, expanding its offerings to users and financial institutions in Europe.
The launch of the new stablecoin is expected to strengthen the EU's position in digital finance, accelerate the adoption of innovative instruments, and provide more opportunities for market participants.
