EUROPEAN BANKS JOIN FORCES TO ISSUE MICA-COMPLIANT EURO STABLECOIN

Summary from the TLDR Crypto newsletter

Nine major European banks, including ING, UniCredit, Danske Bank, and CaixaBank, have formed a consortium to launch a MiCA-compliant euro-denominated stablecoin expected to be issued in the second half of 2026. The initiative aims to provide a European alternative to the US-dominated stablecoin market and enhance Europe's strategic autonomy in digital payments, with the new company being established in the Netherlands and seeking e-money institution licensing from the Dutch Central Bank. The stablecoin will offer near-instant, low-cost transactions with 24/7 cross-border payment capabilities, programmable payments, and enhanced supply chain management features leveraging blockchain technology.