Stablecoins, on-chain crypto-assets pegged to the value of fiat currencies such as the US dollar and Euro (USDT and USDC), are currently used predominantly as the “cash leg” of the crypto ecosystem: they serve as a settlement and liquidity instrument for trading and as a bridge between fiat and crypto
The big announcement Last week, nine European banks—including ING, UniCredit, Danske Bank, SEB, KBC, CaixaBank, Raiffeisen Bank International, DekaBank, and Banca Sella—announced their intention to issue a euro-denominated stablecoin by 2026 jointly. Billed as a pan-European public–private initiative, this move is positioned as a strategic response to the increasing dominance
As stablecoins edge closer to mainstream adoption, their implications stretch far beyond digital asset markets. They are emerging as potential pillars of a new global payment infrastructure, prompting concerns not only about monetary sovereignty but also about legal liability and consumer protection. According to the Financial Times, stablecoins are expected
