Nine European banks including UniCredit and ING are set to jointly launch a euro-backed stablecoin in a bid to bolster the region’s payments autonomy and reduce its reliance on dollar-denominated stablecoins.
ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank and Raiffeisen Bank plan to launch the euro-denominated stablecoin in the second half of 2026, the culmination of a project that has been brewing for the past three years.
