Nine European Banks To Issue Joint MiCA-Compliant Euro Stablecoin by 2026

A group of nine prominent European banks is teaming up to create a new company to issue a euro-denominated stablecoin. Scheduled to launch in the second half of 2026, this venture seeks to reduce Europe’s reliance on non-EU stablecoin issuers. A euro-stablecoin under European control could lower costs and expedite cross-border payments in the region.

Banks to Launch Euro Stablecoin by 2026

The banks behind the initiative include ING, UniCredit, KBC, SEB, Danske Bank, CaixaBank, Raiffeisen Bank International, Banca Sella, and DekaBank. They have formed a new company in the Netherlands. 

The group intends to apply for an e-money license from the Dutch central bank to operate under European financial regulations. Furthermore, they announced that the venture is open to more banks joining over time. They also plan to appoint a CEO soon. 

The stablecoin will be fully compliant with the European Union’s new Markets in Crypto-Assets regulation (MiCA). The framework provides a comprehensive regulatory framework for stablecoins and crypto-assets, giving issuers clarity on compliance and reserve rules. It also strengthens protections for consumers.

Europe Pushes to Close U.S. Stablecoin Gap

For some time, stablecoins denominated in U.S. dollars have dominated the global market, accounting for about 97% of total stablecoin supply. This overwhelming share gives issuers outside the eurozone far more influence over digital payments, reserves, and financial flows.

Europe has increasingly come under pressure to offer its own strong alternative: euro-pegged stablecoins. By doing so, it aims to preserve monetary sovereignty, ensure that the payment infrastructure remains under EU oversight, and reduce dependency on U.S.-based regulation and financial systems. 

For this reason, the banks stated that the stablecoin would reduce reliance on non-EU stablecoin providers, while facilitating faster, cheaper, and more transparent cross-border payments. 

“We are contributing to fill the need for a trusted, regulated solution for on-chain payments and settlement, paving the way for a new standard in the digital asset space that will support Europe’s growth and financial sovereignty,” UniCredit’s head of strategy Fiona Melrose said. 

The latest move suggests Europe is accelerating its push into regulated digital finance. It seeks to build infrastructure that is both innovative and anchored by clear rules. If all goes well, this euro stablecoin is expected to play a key role in facilitating the movement of money across borders by 2026.

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