May 21
Euro stablecoin project adds 25 new banks to consortium, bringing total to 37
The European euro stablecoin consortium has grown from 9 to 37 banks across 15 countries, targeting a MiCAR-compliant launch in the second half of 2026.
➤ A consortium of European banks has expanded significantly, now including 37 institutions from 15 countries, to launch a MiCAR-compliant euro stablecoin in the second half of 2026. ➤ The initiative aims to reduce Europe's reliance on US-dollar-denominated stablecoins and leverage the clarity provided by the Markets in Crypto-Assets Regulation (MiCAR). ➤ This move introduces a significant competitive threat to existing stablecoin issuers like Tether and Circle, though execution and adoption remain key challenges.
