Nine European banks have formed an alliance for the issuance of a euro stablecoin compliant with the MiCA regulation, with an initial issuance expected in the second half of 2026. The goal is clear: to offer near-instant cross-border payments, lower costs, and 24/7 operations – all under the supervision of the De Nederlandsche Bank (DNB), within a defined regulatory framework. MiCA came into effect on June 29, 2023, and defines the regulatory perimeter for e-money tokens (EMT).