Report: Unicredit, ING Lead 9-Bank Push to Build Euro Stablecoin by 2026

**European Banks Challenge Dollar Dominance with Euro Stablecoin Initiative**

Nine major European banks, led by **Unicredit** and **ING**, are collaborating to launch a **euro-denominated stablecoin** by the second half of 2026, marking a significant shift in the **cryptocurrency** landscape. This groundbreaking initiative represents Europe's strategic response to the **dollar-centric stablecoin market**, potentially reshaping global **digital currency** dynamics.

The ambitious **blockchain** project aims to create a homegrown alternative to existing **USD stablecoins** like USDC and Tether, which currently dominate the **DeFi ecosystem**. This European stablecoin could enhance **cryptocurrency** adoption across EU markets while reducing dependence on US dollar-backed digital assets.

The banking consortium's move signals growing institutional confidence in **blockchain technology** and **digital assets**, potentially driving increased **Bitcoin** and **crypto market** legitimacy. By 2026, this euro stablecoin could facilitate seamless **cryptocurrency trading**, cross-border payments, and **DeFi** applications within European markets.

This development reflects the broader trend of traditional financial institutions embracing **cryptocurrency** infrastructure, potentially boosting overall **crypto market** capitalization and establishing Europe as a major **blockchain** innovation hub alongside existing **digital currency** ecosystems.