Nine major European banks have formed a consortium to launch a MiCAR-compliant euro-based stablecoin in the second half of next year.

ING, UniCredit, & Other European Banks Are Coming Together For Stablecoin

As announced in a press release by Italian banking giant UniCredit, the bank is joining forces with eight other major European institutions to launch a stablecoin pegged to the euro.

“This digital payment instrument, leveraging blockchain technology, aims to become a trusted European payment standard in the digital ecosystem,” read the press release.

The stablecoin will have compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCAR), the bloc’s comprehensive framework on cryptocurrencies. MiCAR covers a range of areas, like issuance and custody of digital

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