Banking giants leverage blockchain to slash euro transfer costs as euro-backed stablecoins gain rapid institutional traction across the region.
Nine European banks announced plans today to launch a euro-denominated stablecoin. The consortium includes major financial institutions ING, a Netherlands-based multinational bank, Banca Sella, KBC, Danske Bank, and UniCredit.
The stablecoin launch aligns with the EU’s Markets in Crypto-Assets (MiCA) framework, fully effective since December 2024.
Euro stablecoin trading volume has surged recently, reflecting rising institutional adoption amid increased demand for alternatives to USD-pegged assets.
Several of the participating banks have recently expanded their digital asset services. UniCredit launched crypto-related investment products linked to BlackRock’s Bitcoin ETF in mid-2025, while Banca Sella launched an internal pilot project in mid-2025 to test custody services for digital assets, including stablecoins, in collaboration with technology provider Fireblocks.
