Euro Banks Unite for a New Stablecoin Standard
A significant collaboration is underway in the European financial sector, as a powerful consortium of leading European banks has announced plans to develop a new euro-denominated stablecoin. This ambitious initiative aims to establish a robust and trusted European payment standard within the rapidly evolving digital ecosystem, directly addressing what they perceive as a US-dominated stablecoin landscape. The group, comprising prominent institutions such as Denmark’s Danske Bank, ING, Banca Sella, KBC, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International, is pooling its resources and expertise to create a digital asset designed for efficiency and broad utility. This move signifies a proactive step by European financial players to assert their independence and innovation in the global digital finance arena, fostering greater strategic autonomy in payments across the continent. Reshaping European Payments with a Digital Euro The core objective behind this stablecoin projec…
