Nine titans of European finance-ING, UniCredit, CaixaBank, KBC, Danske Bank, DekaBank, Banca Sella, SEB, and Raiffeisen-have united like a socialist realist novel’s ensemble cast 🏦💥 to birth a euro stablecoin by 2026. Because nothing says “trust” like banks issuing their own cryptocurrency. 🚀
The project will operate under the EU’s MiCAR framework, because regulations are just crypto’s way of saying “I love you.” 💘
Banks Form Dutch Consortium for Euro Stablecoin
A new Dutch company-because why not? 🇳🇱-will apply for an e-money license. The Dutch Central Bank, ever the stoic, will supervise. A CEO will be appointed “subject to regulatory approval,” which is corporate speak for “we hope the bureaucrats don’t yawn too hard.”
The token promises instant transactions, 24/7 cross-border payments, and programmable settlement. In short: blockchain’s greatest hits, repackaged. Wallets and custody services? Coming soon. Because who doesn’t want their bank holding their crypto keys? 🔐
Strategic Context, Market Share, and Expert Views
The consortium aims to challenge USD stablecoins, which own 99% of the market. Europe’s answer: “We’ll take our 1% and make it *art*. 🎨” The ECB warns MiCA is too lenient, while the Commission wants to loosen rules. It’s a regulatory tango 🕺-no one’s leading.
Société Générale’s Forge already launched a euro stablecoin on Stellar. Because why wait for 2026 when you can mock the future *now*? 😎
CoinGecko data reveals the euro stablecoin market is as fragmented as a broken mirror: EURC (47%), STASIS EURO (26%), CoinVertible (9%). Combined cap? Under €350M. A pittance compared to USD’s empire. 🤷♂️
“MiCA is promising, but the framework remains incomplete…” 👻
Another analysis? Euro stablecoins remain marginal. ECB’s Schaaf warns of eroding sovereignty: “Europe must not become a crypto colony!” 🚨 Meanwhile, Lagarde demands stricter oversight of non-EU issuers. The digital euro push? A Cold War for the blockchain age. 🌐
“Digital payments are key…” 🗝️
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2025-09-25 17:25