Nine Major European Banks Team Up for Euro-Pegged Stablecoin Launch in 2026
A group of nine major European banks has joined forces to create a euro-pegged stablecoin, set to launch in 2026. The alliance, which includes UniCredit, ING, and DekaBank among others, has established a new company in the Netherlands to issue the stablecoin. Meanwhile, the DeFi ecosystem is seeing significant growth with Plasma's rapid inflows and Cronos' strategic partnership with AWS.
Plasma, a public blockchain pegged to Tether, has attracted $7.86 billion in net inflows since its launch, demonstrating the potential of stablecoins in bolstering the DeFi ecosystem. From September 23 to October 1, 2025, Plasma saw positive early momentum, with inflows peaking at $3.5 billion on September 25. Plasma is a DeFi platform that deposits on yield platforms like Aave and Veda.
Cronos, aiming to be the preferred blockchain platform for real-world asset (RWA) tokenization by 2025-2026, has partnered with Amazon Web Services (AWS) to accelerate institutional adoption. The partnership offers blockchain startups scalable cloud services and up to 100,000 AWS credits to build more robust tokenized finance applications.
The planned euro stablecoin, expected to be classified as an electronic money token (EMT), will be one of the first significant traditional finance initiatives fully compliant with the Markets in Crypto-Assets (MiCA) regulations. MiCA requires stablecoins to meet strict requirements, including full reserves, which come into effect in 2024.
The alliance of nine European banks is poised to launch a euro-pegged stablecoin in 2026, marking a significant step towards traditional finance's embrace of crypto assets. Meanwhile, Plasma's inflows and Cronos' AWS partnership underscore the growing maturity and institutional interest in the DeFi and tokenized finance spaces.
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