[Nine European Banks to Launch Compliant Euro Stablecoin] On September 25, nine major European banks announced a collaboration to launch a euro stablecoin governed by the EU's Markets in Crypto-Assets Regulation (MiCA). Participating banks include ING Group from the Netherlands, UniCredit from Italy, and KBC from Belgium, among others. The stablecoin aims to provide a European alternative to the U.S.-dominated stablecoin market, supporting low-cost, instant cross-border payments and optimized digital asset settlement. The first issuance is expected in the second half of 2026.