ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International. These banks have announced a consortium to launch a blockchain-powered digital currency. This coin will be fully compliant with the European Union’s upcoming Markets in Crypto-Assets Regulation (MiCAR).
The initiative, expected to go live in the second half of 2026. It aims to provide near-instant, low-cost payments and settlements across Europe and beyond. By positioning itself as a trusted European payment standard, this euro stablecoin seeks to reduce reliance on US-backed stablecoins. This is while supporting Europe’s push for financial autonomy.
Building a European Payment Standard
The group of banks has formed a new company in the Netherlands that will apply for a license as an e-money institution under the supervision of the Dutch Central Bank. This regulatory approach is designed to ensure user protection, compliance with MiCAR, and full alignment with Europe’s financial framework.
🚨 Nine major European banks, including ING and UniCredit, are teaming up to launch a euro-pegged stablecoin fully compliant with MiCA.
Europe finally moving to build its own alternative. pic.twitter.com/VdCKcQcK4p
— Satoshi Club (@esatoshiclub) September 25, 2025
By offering instant payments and programmable functions, the stablecoin could be applied across industries. In supply chain management, for example, smart contracts could trigger payments automatically when goods arrive, reducing delays and disputes. Similarly, in capital markets, the coin could simplify settlement of digital securities and crypto assets, reducing risks tied to slow transaction times.
The move comes at a time when the stablecoin market is heavily dominated by US-based players like Tether (USDT) and Circle’s USD Coin (USDC), which together account for the majority of global stablecoin circulation. A euro-backed option could strengthen Europe’s role in digital finance and give businesses and consumers a trusted, regionally governed alternative.
More About Stablecoins
Stablecoins are rapidly approaching a $300 billion supply, with $5 billion added in just one week and $17 billion over the past month, signaling accelerating growth. Since the GENIUS Act passed, weekly stablecoin supply has consistently hit new all-time highs. Over 99% of these coins are pegged to the US Dollar, effectively giving the dollar a new, global distribution platform.
$300 billion.
That’s where stablecoins are about to land. Supply is up $5B in a week, $17B in a month. And it’s accelerating.
Every week since the GENIUS Act passed, stablecoin supply has hit an all-time high.
Over 99% are pegged to the Dollar. Which means the USD has found a… pic.twitter.com/gAA8jSI8NR
— Patrick Scott | Dynamo DeFi (@patfscott) September 25, 2025
Stablecoins enable dollars to move across borders with a speed and scale that legacy systems cannot match. With the US M2 money supply also at record levels, the key metric to watch is USD stablecoins as a share of M2, which has similarly reached historic highs, reflecting that an increasing portion of commerce is now happening in stablecoins.
Disclaimer
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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