Banca Sella, ING, 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 aforementioned 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.
„Digital payments are key for new euro-denominated payments and financial market infrastructure. They offer significant efficiency and transparency, thanks to blockchain technology’s programmability features and 24/7 instant cross-currency settlement. We believe this development requires an industry-wide approach, and it’s imperative that banks adopt the same standards,” states Floris Lugt, Digital Assets lead at ING and joint public representative of the initiative.
“Sella has always stood out for its innovative approach, aimed at imagining and shaping the future by focusing at customer needs and not just market opportunities. For the past three years, we have invested on DLT and digital asset technologies with a dedicated competence center, because we are convinced that the convergence between traditional and decentralized finance is the key to developing new service models. Joining the European stablecoin consortium, which we have supported from the beginning, marks a crucial milestone in our strategic path on digital assets: our goal is to offer innovative solutions that make financial transactions simpler and more efficient, both in the European market and on a larger scale,” comments Andrea Tessera, Chief Innovation Officer at Sella.
„Stablecoins are an important pillar of our digital asset strategy. We believe they have the potential to transform internal processes and offer our customers faster and more cost-effective transactions and payment options. We joined the consortium because we are convinced of the advantages of a multi-bank approach to issuing stablecoins. By leveraging our networks, pooling resources, distributing risk, and improving liquidity, we can create an ecosystem that capitalizes on the opportunities
offered by the European MiCAR,” said RBI CEO Johann Strobl.
Flaminia Lucia Franca, Head of Transaction Banking in Danske Bank stated: “Digital assets have the power to transform the financial landscape — not just by introducing new forms of money, but by unlocking meaningful efficiencies and savings for both the financial sector and customers. At Danske Bank, we believe this evolution must be driven by collaboration and shared standards across the industry. We are proud to be part of this initiative, working alongside other leading European banks to build a trusted, MiCAR-compliant stablecoin that supports innovation, transparency and actively seeks out pain points, such as inefficiencies, frictions and cost burdens, that this technology can help resolve.“
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