The launch of a European banking stablecoin under MiCAR marks a milestone for the continent’s digital payments landscape. Nine major European banks — ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International — have joined forces to create the first pan-European, euro-pegged stablecoin fully regulated under the EU Markets in Crypto-Assets Regulation (MiCAR).