European Bank Consortium Expands to 37 Members for Euro-Denominated Stablecoin

A new development is emerging in the European stablecoin market as a consortium of banks expands its membership to 37 members from across 15 countries. This project, which started with nine founding banks in September 2025, has gained significant traction and now boasts an impressive roster of participants.

The consortium's goal is to create a fully compliant euro stablecoin, managed by a Netherlands-based company, under the EU's Markets in Crypto-Assets Regulation (MiCAR). This regulatory framework provides a clear guideline for the issuance and management of crypto assets across Europe, offering banks a well-defined playing field they can work within.

The expansion is not coincidental, as it follows the implementation of MiCAR in mid-2024. The regulation's clarity has given regulated banks the confidence to participate in stablecoin projects, and the consortium's rapid growth suggests that its pitch is resonating with financial institutions across Europe.