A consortium of 9 main European banks, together with ING, UniCredit, Danske Financial institution, CaixaBank, SEB, KBC, Banca Sella, DekaBank, and Raiffeisen, is creating a MiCA-compliant euro stablecoin scheduled for launch within the second half of 2026. This initiative represents a strategic response to the overwhelming dominance of US dollar-denominated stablecoins within the digital foreign money ecosystem, the place tokens like USDT and USDC have captured the overwhelming majority of the stablecoin market regardless of the euro being a serious world reserve foreign money.
The European banks’ collaboration goals to create a regulated different that complies with the Markets in Crypto-Belongings (MiCA) regulation, offering European companies and customers with a digital euro choice that gives larger regulatory certainty and regional financial alignment. This transfer displays rising considerations amongst European policymakers and monetary establishments in regards to the potential dangers of over-reliance on USD-based stablecoins, together with publicity to US financial coverage selections and potential regulatory actions that might have an effect on European customers.
The timing of this launch aligns with broader European efforts to ascertain digital monetary sovereignty and cut back dependence on US-dominated fee techniques. By making a euro-denominated stablecoin below European regulatory oversight, these banks intention to seize market share from present USD stablecoins whereas offering European customers with a extra acquainted and regionally acceptable digital foreign money choice. The success of this initiative might encourage comparable collaborations in different main financial areas, doubtlessly fragmenting the at present USD-dominated stablecoin panorama.
This text is for informational functions solely and doesn’t represent monetary recommendation. Please conduct your individual analysis earlier than making any funding selections.
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Editor-in-Chief / Coin Push Dean is a crypto fanatic based mostly in Amsterdam, the place he follows each twist and switch on the planet of cryptocurrencies and Web3.