ING, UniCredit Among Banks That Could Launch MiCA-Compliant Euro Stablecoin in Second Half of 2026

• Euro stablecoin issued by major EU banks, MiCA-compliant and pegged 1:1 to the euro

• Designed for near-instant, low-cost cross-border payments and programmable settlements.

• Consortium includes nine banks from eight EU states; target issuance: second half of 2026.

Euro stablecoin: MiCA-compliant euro stablecoin from major EU banks aims for H2 2026 launch to enable instant, low-cost euro payments. Read details and key takeaways.

What is a MiCA-compliant euro stablecoin?

Euro stablecoin is a digital token pegged to the euro and designed to meet Europe’s Markets in Crypto‑Assets (MiCA) rules. It is intended to be issued by regulated banks, providing a secure, transparent and 1:1 euro-backed instrument for payments and settlements.

Which banks are building the euro stablecoin?

Nine banks from eight EU member states formed the founding consortium. Members include ING (Netherlands), UniCredit and Banca Sella (Italy), CaixaBank (Spain), Danske Bank (Denmark), Raiffeisen Bank International (Austria), KBC (Belgium), SEB (Sweden) and DekaBank (Germany).

The group has established a new company headquartered in the Netherlands to oversee development and governance. The consortium remains open to additional banks joining the project.

How will the euro stablecoin improve payments and settlements?

The euro stablecoin aims to enable near-instant, low-cost cross-border payments and 24/7 settlement, reducing friction in traditional rails. It will support programmable payments for automated flows and improve supply-chain and digital-asset settlements.

According to the consortium statement, the design focuses on interoperability with existing banking infrastructure and compliance with MiCA to ensure regulatory clarity and consumer protection.

Expert perspective: “Digital payments are key for new euro-denominated payments and financial market infrastructure,” said Floris Lugt, ING’s digital asset lead and joint public representative for the project. “We believe this development requires an industry-wide approach, and it’s imperative that banks adopt the same standards.”

When is the euro stablecoin expected to launch?

The consortium targets issuance in the second half of 2026. This timeline allows for technical development, regulatory alignment under MiCA and integration with banking and payments infrastructure across member banks.

What use cases will the stablecoin support?

• Retail and merchant payments: faster euro transactions with lower fees.

• Cross-border corporate payouts: 24/7 settlement across borders without legacy cutoffs.

• Programmable finance: automated escrow, conditional payments and supply-chain automation.

Frequently Asked Questions

Who is behind the euro stablecoin project?

Nine major European banks formed the founding consortium and set up a Netherlands-headquartered company to manage development. Founders include ING, UniCredit, CaixaBank, Danske Bank, Raiffeisen, KBC, SEB, DekaBank and Banca Sella.

Will the euro stablecoin be regulated?

Yes. The stablecoin is being developed to comply with the EU’s MiCA regulation to ensure transparency, reserve requirements and consumer protections required for regulated crypto-assets.

Key Takeaways

• MiCA-compliant euro stablecoin: Built to be 1:1 euro-backed and regulated under EU rules.
• Consortium backing: Nine banks from eight EU states created a new company to issue and govern the token.
• Payments impact: Expected to enable near-instant, low-cost, 24/7 cross-border euro payments and programmable settlements; target issuance H2 2026.

How to use the euro stablecoin for payments (brief guide)

Below are high-level steps for institutional and corporate adoption.

Summary and next steps

The euro stablecoin initiative represents a coordinated banking response to establish a regulated, euro-denominated digital payment standard. Primary goals include payment efficiency, regulatory compliance and strategic autonomy for European payments.

Market participants and institutions should monitor regulatory developments and consortium updates as the project progresses toward the target H2 2026 issuance. For ongoing coverage and official updates, follow COINOTAG updates and consortium announcements published by participating banks as plain text sources.

Publication date: 2025-09-25. Last updated: 2025-09-25. Author: COINOTAG.