ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International (RBI) have formed a consortium to launch a regulated euro stablecoin by the second half of 2026.

The digital payment instrument will be based on blockchain technology and aims to become a trusted European standard in the digital economy. The stablecoin will operate under the European Union’s MiCAR regulatory framework for crypto-assets.

The consortium has established a dedicated company in the Netherlands, which will be licensed and supervised by the Dutch Central Bank as an e-money issuer. Other European banks are invited to join the initiative, and a CEO is expected to be appointed soon, subject to regulatory approval.

The stablecoin is designed to enable near-instant, low-cost payments, available 24/7 across borders. It will support programmable payments, digital asset settlement, and supply chain optimization. The initiative also aims to offer a European alternative to U.S.-dominated stablecoin markets and strengthen the region’s strategic autonomy in digital finance.

“Stablecoins are a key pillar in our digital asset strategy. We believe they can transform internal processes and offer faster, more cost-efficient payment options to our clients,” said Johann Strobl, CEO of Raiffeisen Bank International.