Nine European Banks to Launch MiCA Euro Stablecoin in 2026
Nine main European lenders, together with ING, UniCredit, CaixaBank, KBC, Danske Bank, DekaBank, Banca Sella, SEB, and Raiffeisen Bank International, have introduced a consortium to difficulty a euro-denominated stablecoin.
The initiative will function underneath the EU’s Markets in Crypto-Assets Regulation (MiCAR).
Banks Form Dutch Consortium for Euro Stablecoin
The group has formed a Dutch-based firm that can apply for an e-money license supervised by the Dutch Central Bank. The stablecoin is predicted to be issued in the second half of 2026. Subject to regulatory approval, a CEO might be appointed.
The token is designed to present immediate, low-cost transactions, 24/7 cross-border funds, programmable settlement, and functions in digital property and provide chain administration. Banks may additionally provide wallets and custody providers.
Strategic Context, Market Share, and Expert Views
The consortium seeks to create a European various to US greenback stablecoins, which dominate over 99% of the worldwide market. The European Central Bank has warned that MiCA could also be too lenient, whereas the European Commission is preparing to loosen guidelines, elevating stress with regulators.
EU officers have additionally warned that unchecked US tokens could undermine euro stability.
Competition is rising. Société Générale’s Forge has already launched a euro stablecoin on Stellar and just lately listed its dollar-pegged USDCV on Bullish Europe.
According to CoinGecko knowledge, the euro stablecoin market stays fragmented: EURC controls 47%, STASIS EURO 26%, and CoinVertible 9%. The mixed capitalization continues to be beneath €350 million, highlighting its small scale relative to dollar-based tokens.
“MiCA is promising, however the framework stays incomplete, particularly on cross-border issuance,” an skilled advised BeInCrypto in February.
Another BeInCrypto analysis found that despite new projects, euro-denominated stablecoins stay marginal. In an ECB weblog, senior adviser Jürgen Schaaf wrote that “European financial sovereignty and monetary stability may erode” and not using a strategic response. He added that the disruption additionally affords “a chance for the euro to emerge stronger.”
ECB President Christine Lagarde has known as for stricter oversight of non-EU issuers, tying the controversy to Europe’s digital euro push because the US advances its GENIUS Act laws.
“Digital funds are key for euro-denominated monetary infrastructure,” ING’s Floris Lugt stated, emphasizing the necessity for industry-wide requirements.
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