Nine European Banks Team Up for MiCA-Compliant Euro Stablecoin
Nine leading European banks have joined forces to develop a euro stablecoin compliant with the upcoming Markets in Crypto-Assets (MiCA) regulation. The project, expected to launch in the second half of 2026, marks a significant step towards the widespread adoption of blockchain in regulated financial systems.
The consortium, comprising ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International, aims to create a stablecoin that will likely fall under the category of electronic money token (EMT). This initiative is one of the first major traditional financial projects to align with MiCA regulations.
Meanwhile, the public blockchain Plasma, anchored to Tether, has demonstrated remarkable growth. Since its inception, it has attracted $7.86 billion in net flows. In a recent surge between September 23 and October 1, 2025, Plasma experienced an initial positive momentum, with inflows peaking at $3.5 billion. However, inflows have since stabilized around $1 to $2.5 billion per day, with outflows approximately $1 billion, bringing net flows back to nearly zero by the end of September.
Plasma's inflows illustrate the role stablecoins play in securing decentralized finance (DeFi) ecosystems. The platform deploys deposits on yield platforms like Aave and Veda. Additionally, Cronos, aiming to become the reference blockchain platform for real-world assets (RWAs) by 2025-2026, has partnered with Amazon Web Services (AWS) to accelerate the institutional adoption of tokenized finance at scale. This partnership offers blockchain startups advanced cloud services and up to 100,000 AWS credits for developing more robust tokenized financial applications.
The development of a MiCA-compliant euro stablecoin by nine European banks, the growth of the Plasma blockchain, and the partnership between Cronos and AWS collectively underscore the increasing integration of blockchain technology into traditional finance. These initiatives highlight the institutionalization of tokenized finance and the potential for widespread adoption of blockchain in regulated systems.
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