Nine of the largest European banks are working together to launch Euro-Religious Stubcoin and create a reliable digital payment system under the European Union’s Crypto Assets (MICA) regulations. The initiative illustrates a major driving force for European payment sovereignty in US-backed digital currency-dominated markets.
The consortium includes ING, Banca Sella, KBC, Danske Bank, Dekabank, UnicRedit, Seb, Caixabank and Raiffeisen Bank International.
Together, they established a new company in the Netherlands. This calls for license and supervision from the Netherlands Central Bank as an electronic money institution. Stablecoin is scheduled to be released in the second half of 2026.
Eurostubcoin promises low-cost payments instantly
The bank says the new Stablecoin will allow for low-cost transactions nearby that can be accessed around 24 hours a day. Built on blockchain technology, it supports programmable payments, streamlines cross-border settlements, improves supply chains and digital asset management.
“Digital payments are important for the new euro-denominated financial infrastructure. Blockchain enables efficiency, transparency and immediate settlement of the overall currency,” said Floris Lugt, ING’s lead in digital assets and co-president of the initiative.
The project represents a strategic move to reduce Europe’s US-backed reliance on stubcoins while establishing industry-wide standards. Participating banks offer wallets, storage services and other value-added features, and could shape the future of European regulated digital assets.
Although Stablecoin is still under development, the announcement shows an increasing institutional trust in blockchain-based payments, potentially marking a turning point in the evolution of the digitally native European financial ecosystem.
Why is this important?
The initiative takes a major step towards European-controlled digital payment systems, reducing US dependence on stability and setting the bar for regulated, blockchain-based transactions.
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People ask:
Euro religion stubcoins are a type of digital currency that is fixed at the value of the euro. Unlike volatile cryptocurrencies, they are designed to maintain stable value and are suitable for everyday transactions, cross-border payments and digital assets settlements.
Nine major European banks, Bankasera, KBC, Danske Bank, Dekabank, Unik Reddit, Cebu, Kaisabank and Lifeschosenbank International, have established consortiums to launch Stubcoin. They also established a new company in the Netherlands to oversee the publication.
MICA shortens the market for Crypto Assets, the European Union’s regulatory framework for digital assets. Provides rules and protection for stubcoin and crypto services, ensuring legal clarity and consumer safety in the digital finance ecosystem.
The bank expects Stubcoin to launch in the second half of 2026, with regulatory approval from the Dutch Central Bank being pending, which will be overseen as an electronic money agency.
The initiative reduces Europe’s reliance on US-backed stable coins, strengthens payment sovereignty and sets industry standards for regulated blockchain-based transactions.