EU Banks go Launch Euro Stablecoin under MiCA for 2026
Nine big European banks like ING, UniCredit, Danske Bank, CaixaBank, Banca Sella, DekaBank, SEB, and Raiffeisen Bank International don join hand to form one e-money company wey dey for Netherlands. Dem wan issue euro stablecoin wey go follow EU MiCA rules for second half of 2026. This euro stablecoin go dey pegged one-to-one with euro and go dey regulated under EU Markets in Crypto-Assets framework from December 2024. E go provide 24/7 instant settlement, better transparency, programmable cross-border payments plus custodial wallet service. The group don apply for licence from Dutch Central Bank. Na big move to make Europe get payment control plus to support digital euro system and to waka against the expected dominance of US dollar-backed stablecoins under US GENIUS Act. ING digital assets lead, Floris Lugt talk say e still important make we get shared industry standards for scalable multi-currency settlement.
Neutral
As na regulated stablecoin wey dem pegged one-to-one with di euro, di euro stablecoin dey designed to make sure say price parity dey maintained, so im market value dey naturally stable. Even though di project fit boost liquidity and how European blockchain payments dey used, e no go cause any wahala or fluctuation for di stablecoin price. So, di direct impact for price na neutral both for short and long term.