Ten European Banks to Issue Euro-Linked Stablecoin, Launch Scheduled for Late 2026

On the 2nd, ten European banks including ING, UniCredit, and BNP Paribas announced plans to issue a Euro-linked stablecoin in the latter half of 2026, as reported by Reuters and others. The banks will establish a new company headquartered in Amsterdam, named Kibaris, aiming to counter the dominance of the US dollar in digital payments. Jan-Oliver Sell, former CEO of Coinbase's German operations, will assume the role of CEO at Kibaris. Sell also has experience working at Binance. The new company plans to hire between 45 and 50 people over the next 18 to 24 months. Sell mentioned that a third of the workforce has already been secured. The company is...