Overview

• At a eurozone hearing and the Paris Fintech Forum, senior figures including ESM chief Pierre Gramegna and Eurogroup president Paschal Donohoe urged facilitation of euro‑denominated stablecoins by domestic issuers.
• The European Commission told Reuters that MiCA provides a robust framework for stablecoin risks and said it will issue clarification on how cross‑border multi‑issuance models apply under the rules.
• The ECB and the ESRB have warned that treating tokens from EU and non‑EU entities as interchangeable could trigger reserve strains, while industry groups urged Brussels to confirm multi‑issuance in principle.
• Nine major European banks plan to launch a euro‑backed stablecoin in the second half of 2026 under MiCA via a new Dutch entity, aiming to offer faster, lower‑cost payments and settlements.
• ECB board member Piero Cipollone said a digital euro is unlikely before 2029, and euro‑pegged stablecoins remain a small slice of a market still dominated by dollar tokens.