Nine Major European Banks Launch Euro Stablecoin Consortium for 2026
A group of nine major European banks has joined forces to create a euro stablecoin, set to launch in 2026. This initiative, known as the Euro Stablecoin Consortium, includes ING, UniCredit, CaixaBank, Danske Bank, Raiffeisen Bank International, KBC, SEB, DekaBank, and Banca Sella. This news follows the successful inflows into Plasma and the AWS integration of Cronos, indicating a broader shift towards blockchain adoption in regulated systems.
The consortium aims to create an E-Money Token (EMT) that complies with the upcoming 'Markets in Crypto-Assets' (MiCA) regulations. These rules, effective from 2024, require stablecoins to have full reserve coverage. Meanwhile, Plasma, a Tether-supported public blockchain, has seen significant growth, with 7.86 billion USD in net inflows since its launch. Between September 23 and October 1, 2025, Plasma experienced a peak inflow of 3.5 billion USD on September 25. However, inflows have since stabilized at around 1-2.5 billion USD per day, with outflows around 1 billion USD, leading to nearly zero net inflows by the end of September.
In another development, Cronos has partnered with Amazon Web Services (AWS) to accelerate the institutional adoption of Real World Assets (RWAs). This collaboration offers blockchain startups scalable cloud services and up to 100,000 AWS credits to develop more powerful tokenized financial applications. Cronos aims to establish itself as the preferred blockchain platform for RWAs by the 2025-2026 roadmap.
The Euro Stablecoin Consortium's initiative signals a significant step towards wider blockchain adoption in regulated systems. With MiCA regulations coming into effect in 2024, this project demonstrates traditional financial institutions' commitment to compliance. Plasma's recent inflows and outflows show a stablecoin ecosystem in flux, while Cronos' AWS partnership highlights the growing institutional interest in tokenized financial applications.
