9 European Banks Team Up to Launch MiCA-Compliant Euro Stablecoin
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A group of nine leading European banks is rolling out a euro-backed stablecoin designed to meet the European Union’s new Markets in Crypto-Assets (MiCA) standards.
The move marks one of the region’s most significant efforts yet to establish a regulated digital payment instrument.
The consortium includes ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International. According to a joint announcement on Thursday, the project will use blockchain infrastructure to create a trusted settlement tool intended for both retail and institutional use.
The banks said the initiative reflects Europe’s ambition to reduce reliance on U.S.-issued stablecoins and strengthen its own strategic autonomy in payments. By issuing a euro-denominated token under MiCA oversight, the group aims to set a benchmark for compliant digital assets in the European market.
The upcoming stablecoin will operate as a European payment standard, supporting cross-border transactions, financial services integration, and potentially decentralized finance applications. With MiCA now providing a common regulatory framework, the banks see this as a timely opportunity to position Europe at the forefront of blockchain-based payments.
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