EU Banks to Launch Euro Stablecoin Under MiCA in 2026
Nine major European banks—including ING, UniCredit, Danske Bank, CaixaBank, Banca Sella, DekaBank, SEB and Raiffeisen Bank International—have formed a Netherlands-based e-money institution to issue an EU MiCA-compliant euro stablecoin in the second half of 2026. The euro stablecoin, pegged one-to-one with the euro and regulated under the EU’s Markets in Crypto-Assets framework from December 2024, will offer 24/7 instant settlement, enhanced transparency, programmable cross-border payments and custodial wallet services. The initiative has applied for a licence from the Dutch Central Bank. It is positioned as a strategic move to bolster Europe’s payment autonomy, support the digital euro ecosystem and counter the anticipated dominance of US dollar-backed stablecoins under the US GENIUS Act. ING’s digital assets lead Floris Lugt highlights the importance of shared industry standards for scalable, multi-currency settlement.
Neutral
As a regulated stablecoin pegged one-to-one with the euro, the euro stablecoin is designed to maintain price parity, leaving its market value inherently stable. While the project could enhance liquidity and adoption of European blockchain payments, it does not introduce volatility to the stablecoin’s price. Therefore, its direct impact on price is neutral in both the short and long term.