Overview

• Founding members include CaixaBank, ING, UniCredit, KBC, Danske Bank, DekaBank, SEB, Raiffeisen Bank International and Banca Sella.
• A newly incorporated Netherlands-based issuer will seek an e‑money institution license and be supervised by De Nederlandsche Bank, targeting first issuance in the second half of 2026 under MiCA.
• The stablecoin is designed for near‑instant, low‑cost, always‑on payments, cross‑border transfers, programmable transactions and settlement of tokenized assets.
• Under the MiCA framework, the issuer plans fully backed 1:1 high‑quality reserves with quarterly audits to offer a trusted euro option in a market dominated by dollar stablecoins.
• The announcement coincides with the ECB’s 2029 target for a possible digital euro and wholesale DLT initiatives, as analysis cautions that central‑bank liquidity backstops could shape the competitiveness of euro versus dollar stablecoins.