UniCredit, ING Among Nine Lenders Developing Euro Stablecoin

Nine European banks have joined forces to develop a euro-based stablecoin as an alternative in a market dominated by dollar-backed tokens.

The lenders are UniCredit SpA, ING Groep NV, DekaBank, Banca Sella, KBC Group NV, Danske Bank AS, SEB AB, CaixaBank SA and Raiffeisen Bank International AG, according to a statement from DekaBank. The stablecoin is scheduled to be launched in the second half of 2026.