🚀 EUROPE STRIKES BACK: Banking Giants Launch Crypto Euro to Challenge US Dominance! 🇪🇺
A powerful alliance of nine major European banks has just announced a joint venture to issue a MiCA-compliant euro stablecoin, marking a historic move to reclaim European sovereignty in the digital payments space .
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The Banking Powerhouse Behind the Coin
The consortium reads like a who's who of European finance,featuring heavyweights from across the continent :
Bank Country
ING Netherlands
UniCredit Italy
CaixaBank Spain
Danske Bank Denmark
KBC Belgium
Raiffeisen Bank International Austria
SEB Sweden
DekaBank Germany
Banca Sella Italy
Strategic Vision & Key Details
· Goal: To create a trusted European payment standard and provide a real alternative to the US-dominated stablecoin market, which currently boasts a staggering $300 billion in value compared to just $620 million for euro-pegged tokens .
· Launch Timeline: The stablecoin is expected to be issued in the second half of 2026 .
· Structure: A new company has been formed in the Netherlands, which will seek licensing as an e-money institution from the Dutch Central Bank .
· Benefits: The coin will enable near-instant, low-cost, 24/7 cross-border payments and programmable settlements, boosting efficiency for businesses and individuals .
This initiative is a direct response to the overwhelming dominance of US dollar-backed stablecoins like USDT and USDC. It represents a massive institutional endorsement of blockchain technology and a strategic push for Europe's "strategic autonomy in payments" .
#EuroStablecoin #MiCA #BankingRevolution #EUR
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💬 What's your take on this major move by traditional banks? Can a euro stablecoin truly compete with US giants? Share your thoughts below! 👇