Nine European Banks to Launch MiCA Euro Stablecoin: Here’s the Timeline

TLDR:

• Nine top European banks form a consortium to issue a MiCA-compliant euro stablecoin in 2026.
• The consortium will seek a Dutch e-money license and invite more banks to join.
• The stablecoin aims to enable 24/7 low-cost cross-border and programmable payments.
• The initiative seeks to provide a European alternative to the US-dominated stablecoin market.
  

Nine of Europe’s largest banks are teaming up to launch a regulated euro stablecoin. The move could reshape digital payments across the region. The project is set to roll out in 2026 under the European Union’s MiCA framework. 

The banks plan to establish a licensed entity in the Netherlands to oversee the rollout. This comes as Europe looks to offer a homegrown option in a market dominated by U.S. issuers.

New Euro Stablecoin Targeted for 2026

According to a joint announcement, ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International have joined forces to launch a euro-denominated stablecoin. 

Wu Blockchain reported that the new company will seek an e-money license from the Dutch central bank before the first issuance in the second half of 2026.

The planned stablecoin will run on blockchain infrastructure and allow near-instant payments. It will support 24/7 cross-border transfers and programmable payment options, addressing friction in current settlement systems.

The consortium stated that the stablecoin could also be used for digital asset settlements, including both securities and cryptocurrencies. Each member bank may provide its own wallet and custody solutions to users once the coin is live.

Regulators will supervise the project under the EU’s Markets in Crypto-Assets Regulation (MiCA). The group said that this is aimed at building trust and providing a fully compliant European payment standard.

Consortium Opens Door for More Banks

The nine banks have formed a dedicated entity in the Netherlands to manage the rollout. A CEO will be appointed after regulatory approval, according to the announcement.

The group is inviting more banks to join in order to broaden adoption across the continent. The consortium aims to strengthen Europe’s financial sovereignty by creating a stablecoin that can compete with dollar-based offerings.

Fiona Melrose, UniCredit’s Head of Group Strategy and ESG, said the initiative addresses the demand for a trusted solution for on-chain payments. She added that collaboration among European institutions could support the region’s economic growth and strengthen its payment ecosystem.

The project’s goal is to become the standard for euro-backed digital payments while offering low-cost, always-available settlement. This would give European users and businesses a way to avoid reliance on foreign stablecoins.

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