Nine major European banks, including ING, Banca Sella, and UniCredit, have announced plans to launch a Euro-denominated stablecoin by the second half of 2026. The initiative, which involves forming a new company, aims to comply with the Markets in Crypto-Assets (MiCA) regulations. The group will seek an electronic money institution license from the Dutch central bank. The stablecoin is designed to facilitate low-cost, near-real-time cross-border payments and digital asset settlements, positioning itself as a new standard for European digital payments. The project is open to participation from additional banks, potentially broadening its impact across the continent.