ING, UniCredit join banks developing euro stablecoin under MiCA

Major European banks ING and UniCredit are spearheading the development of a MiCA-compliant euro stablecoin, marking a significant milestone in cryptocurrency regulation and institutional blockchain adoption. The ambitious project involves nine leading banks collaborating to create a regulatory-compliant digital currency expected to launch in the second half of 2026.

This groundbreaking initiative represents Europe's strategic response to the growing stablecoin market, positioning traditional banking institutions at the forefront of DeFi innovation. The euro-backed cryptocurrency will operate under the Markets in Crypto-Assets (MiCA) regulatory framework, ensuring compliance with European Union digital asset standards.

The bank consortium's entry into the stablecoin space could reshape the cryptocurrency landscape, potentially competing with established players like USDC and Tether. This institutional backing provides enhanced credibility and regulatory certainty for European crypto markets, potentially driving increased Bitcoin and altcoin adoption across the region.

The 2026 timeline allows comprehensive regulatory compliance testing and blockchain infrastructure development. This collaborative approach between traditional finance and cryptocurrency technology demonstrates the evolving relationship between legacy banking systems and digital assets, signaling broader institutional acceptance of blockchain-based financial solutions in the European market.