9 European Banks Unite to Launch Euro Stablecoin in 2026
Nine major European banks have formed a consortium to issue a euro-backed stablecoin, slated for a second-half 2026 launch. The Netherlands-based issuer will include UniCredit, ING, DekaBank, Banca Sella, KBC Group, Danske Bank, SEB, CaixaBank and Raiffeisen Bank International. Targeting dollar dominance held by USDT and USDC, the group aims to strengthen Europe’s strategic autonomy in digital payments. Backed by the EU’s MiCA regulation, the euro stablecoin will speed up cross-border settlements and automate business transactions. High-level supporters include ECB council member Joachim Nagel and Bank of France Governor François Villeroy de Galhau, who warn of future reliance on dollar-backed tokens if Europe lags. In parallel, Best Wallet Token (BEST) has emerged as a presale standout, raising over $16.1 million so far. The growing interest in utility tokens and secure multi-chain wallets suggests strong momentum ahead of the euro stablecoin launch.
Bullish
The launch of a euro stablecoin by nine leading banks under the EU’s MiCA framework signals a significant shift in the stablecoin landscape. Just as USDC and USDT drove growth in dollar-denominated digital assets, a euro stablecoin offers a credible alternative, reducing reliance on the dollar and enhancing Europe’s digital sovereignty. Historically, regulated stablecoins like USDC have boosted institutional adoption and liquidity; a euro-backed token is likely to replicate these effects by attracting euro-based trading volume and settlement flows. In the short term, crypto traders may increase euro-pair activity and liquidity in anticipation of the stablecoin’s debut, while long-term impacts include stronger euro adoption in DeFi, cross-border payments, and institutional treasury operations. Concurrent interest in Best Wallet Token (BEST) underscores demand for compliant wallets and utility tokens, further reinforcing a bullish outlook for Europe’s digital asset infrastructure.