As per AMBCrypto, European banks including BNP Paribas, ING, and UniCredit have formed a ten-bank consortium to launch a euro-backed stablecoin alternative. The initiative aims to establish a secure, compliant digital payment standard aligned with EU's MiCAR regulation. The consortium, led by Qivalis, plans to launch the stablecoin by the second half of 2026, pending regulatory approval and workforce expansion.
European Banking Giants Launch Euro-Backed Stablecoin Consortium
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