Milan, 25 September 2025 - Nine major European banks - ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank and Raiffeisen Bank International - have joined forces to launch a MiCAR-compliant euro-denominated stablecoin. This digital payment instrument, leveraging blockchain technology, aims to become a trusted European payment standard in the digital ecosystem.
The stablecoin will provide near-instant, low-cost payments and settlements. It will enable 24/7 access to efficient cross-border payments, programmable payments, and improvements in supply chain management and digital asset settlements, which can vary from securities to cryptocurrencies.
The stablecoin will be regulated by EU's "Markets in Crypto-Assets Regulation" (MiCAR) and is expected to be first issued in the second half of 2026.
The stablecoin consortium, with the mentioned banks as founding members, has formed a new company in the Netherlands, aiming to be licensed and supervised by the Dutch Central Bank as an e-money institution. The consortium is open to additional banks joining. A CEO is expected to be appointed in the near future, subject to regulatory approval.
The initiative will provide a real European alternative to the US-dominated stablecoin market, contributing to Europe's strategic autonomy in payments. Individual banks will be able to provide value added services, such as a stablecoin wallet and custody.
Fiona Melrose, Head of Group Strategy and ESG at UniCredit said: "At UniCredit, we believe in the importance of a stronger Europe and in the power of constructive dialogue and collaboration. By joining this consortium of leading European banks, we are contributing to fill the need for a trusted, regulated solution for on-chain payments and settlement, paving the way for a new standard in the digital asset space that will support Europe's growth and financial sovereignty. This reflects our conviction that Europe will prosper when its institutions work together".
Contacts:
Media Relations e-mail: MediaRelations@unicredit.eu
Investor Relations e-mail: InvestorRelations@unicredit.eu