European Banks Back MiCA Euro Stablecoin to Rival Dollar Tokens
Cointelegraph
A group of 12 European banks has partnered with Fireblocks to launch a MiCA-compliant euro stablecoin by 2026 to challenge dollar-denominated token dominance.Summary
A consortium of 12 European banks, led by the Dutch venture Qivalis, is collaborating with Fireblocks to develop a MiCA-compliant, 1:1-backed euro stablecoin. Scheduled for a 2026 launch pending regulatory approval, the initiative aims to provide institutional-grade settlement, treasury management, and tokenization services. By creating a regulated, euro-native digital asset, the group seeks to reduce the European financial sector's reliance on US dollar-denominated stablecoins, which currently account for approximately 99% of the global market cap.
(Source：Cointelegraph)