ING and UniCredit Partner with Banks to Develop Euro Stablecoin Under MiCA Regulations

ING and UniCredit have announced their collaboration with a consortium of financial institutions to create a stablecoin pegged to the euro. This initiative is being undertaken in anticipation of the Markets in Crypto-Assets (MiCA) regulation, which aims to regulate the cryptocurrency market within the European Union. Stablecoins are viewed as a bridge connecting traditional currencies and cryptocurrencies, and this project seeks to establish a reliable and efficient digital payment method within the Eurozone. This cooperation between major banks is expected to provide a robust foundation for the development and adoption of this stablecoin, fostering innovation in digital payments and expanding the use of regulated crypto assets in Europe. The project emphasizes ensuring complete compliance with MiCA requirements, thereby guaranteeing transparency and security for users.