Nine European banks have announced the formation of an alliance, planning to launch a compliant euro stablecoin in 2026.

Recently, nine major banks in Europe announced the formation of an alliance and plan to launch a euro stablecoin that complies with the EU's Markets in Crypto-Assets Regulation (MiCAR) standards in the second half of 2026.

This move aims to create a trustworthy European digital payment standard and is committed to challenging the current stablecoin market pattern dominated by the United States.

The bank alliance includes 9 globally influential financial institutions, such as ING, KBC, Danske Bank, UniCredit, and CaixaBank.

It is worth noting that ING, as a globally comprehensive financial services banking group recognized by international regulatory authorities as having significant status, indicates that traditional financial giants are actively embracing blockchain technology.

Currently, these banks have established new companies in the Netherlands and plan to apply for an electronic money institution license from the Dutch central bank, while welcoming more European banks to join.

According to the joint statement, the launched #Euro stablecoin will utilize blockchain technology and aims to become an important payment tool in the EU digital ecosystem, strictly following the MiCAR regulatory framework.

Fiona Melrose, the Strategic Head of UniCredit Group in Italy, emphasized that the project demonstrates the commitment of European financial institutions to collaboratively drive financial innovation. This move not only meets the market's compliance requirements for blockchain payments but also promotes the advancement of fintech and the popularization of digital assets.

At the same time, the U.S. Commodity Futures Trading Commission (CFTC) has recently launched an initiative regarding stablecoins as collateral in the derivatives market, indicating that global regulators are accelerating the incorporation of stablecoins into the mainstream financial system.

The establishment of the European Banking Union marks a significant step by traditional financial institutions into the digital asset space, with the potential to reshape the competitive landscape of the global stablecoin market.

Currently, the project is in the preparation stage, and after obtaining regulatory approval, the alliance also plans to appoint a Chief Executive Officer.

If everything goes as planned, it will become the first compliant euro stablecoin issued by a large traditional banking alliance, providing important infrastructure support for the development of the European digital economy.