Kai H. Kuljurgis’ Post

STABLECOIN: EU vs US While the US aims to become the global capital of cryptocurrencies (Tether and USDC hold 85% of the market), a consortium of nine European banks launches a #stablecoin, denominated in Euro, with a fully operational project in the second half of 2026. The consortium, which is based in the Netherlands, consists of Raiffesein Bank International (Austria), SEB (Sweden), ING (Netherlands), KBC (Belgium), Deka Bank (Germany), Danske Bank (Denmark), Caixa Bank (Spain), Unicredit and Banca Sella (Italy). The stablecoin will be regulated by the #MiCAR, will be anchored to the Euro -thus connecting to the other initiative in the field, the creation of the digital Euro (#CBDC)- and aims to become the main payment instrument in the digital infrastructure of the European banking market, to offer efficient and secure cross-border transactions, with a cost reduction (approximately 60%) and operational criticalities, thanks to DLT (Distributed Ledger Technology). Additional services may be integrated, such as digital wallets and stablecoin custody. Issues that make the European ecosystem fragile, at the moment, compared to the US: - the fragmentation of national markets; - quality of reserves not always optimal; - absence of eurobonds; - need to collateralize emissions with government bonds and with sovereign related spread risk; - very restrictive regulations However, it is a historic step, even if it comes late: we hope it can represent a further opening to the digital transformation of the EU banking sector, beginning to reduce the competitive gap against US. 📌 In your opinion, what are the strengths and weaknesses of this project?

🚨 Breaking: Nine major European banks — including Danske Bank, ING, UniCredit, CaixaBank, DekaBank, KBC Bank & Verzekering, SEB, Banca Sella, and Raiffeisen Bank International AG — are joining forces to issue a euro-backed stablecoin, targeted for launch in H2 2026. The new entity will be based in the Netherlands and apply for a Ducht EMI license to issue a MiCA’s compliant stablecoin, meaning strict rules on reserves, disclosures, and audits. 📊 The scale is hard to ignore: €4,060 billion in combined assets 122.4 million customers across Europe 💡 Commentary: Circle and Tether may have kicked the door open for stablecoin use, but this move has the potential to bring the flood. If anyone can drive adoption of euro stablecoins and challenge USD dominance, it’s a consortium of banks with this kind of reach. Of course, hurdles remain: ECB skepticism, network effects, and the technical execution of reserves and interoperability. But the signal is clear — Europe is serious about building its own digital money rails. The next two years will decide whether this becomes the default euro stablecoin… or just another experiment. #BreakingNews #EuroStablecoin #MiCA #DigitalPayments #TradFiMeetsWeb3

🚨📝 September 25, 2025. #Stablecoins #MiCA #Euro. Nine European banks - including ING, UniCredit, Danske, SEB, CaixaBank and Raiffeisen - announced plans to launch a euro-denominated stablecoin via a new Amsterdam-based company, expected H2 2026. This is another move to establish a Euro-backed stablecoin to compete with the USD-dominant world market - currently, euro-denominated stablecoins totalled just $620 million, while global stablecoin issuance stands at nearly $300 billion. 🔍 Key Takeaways: ▶️ The consortium includes nine banks and will appoint a CEO soon, signalling a major institutional entry into stablecoins. ▶️ The initiative aims to counter U.S. dominance: today, USDT ($172.8B) and USDC ($73.9B) control the market, while euro stablecoins stand at just $620M in circulation. ▶️ The token will be used for low-cost, fast payments and settlements, offering a regulated alternative under #MiCA. ▶️ ECB remains sceptical, with Christine Lagarde warning stablecoins pose risks to monetary policy and financial stability, while pushing for a digital euro instead. ▶️ Commercial banks fear an ECB-backed digital euro could drain deposits, making a privately issued euro-stablecoin a “middle ground” solution. ▶️ Europe is under pressure: Deutsche Bank notes emerging markets already replacing deposits with dollar stablecoins, raising the risk of euro irrelevance in digital finance. ▶️ Earlier attempts, like SocGen’s SG-FORGE euro stablecoin, have struggled with adoption – showing banks still face an uphill battle. 🤷♂️ The So What? #Compliance #Crypto #Banking professionals should: ✅ Track how MiCA rules will shape issuance, reserve requirements, and custody of bank-led stablecoins. ✅ Anticipate client questions about euro vs. dollar settlement choices in digital markets. ✅ Prepare for a scenario where bank-issued stablecoins compete not only with USDT/USDC but also with a potential #DigitalEuro. 📩 Will this consortium finally give the euro a fighting chance in the stablecoin race, or will dollar dominance keep widening until 2026? #Stablecoin | #MiCA | #Euro | #ECB | #CryptoRegulation | #DigitalAssets | #Payments | #BankingInnovation

🇪🇺 European Banks Prepare Its Own Stablecoin 2026 Nine leading European financial institutions - including ING, UniCredit, CaixaBank, Danske Bank and Raiffeisen Bank International - have announced their intention to launch a euro-denominated stablecoin fully compliant with the Markets in Crypto-Assets Regulation (MiCA). The initiative is scheduled for the second half of 2026. This development goes well beyond a technological experiment. It represents a significant step towards establishing a European digital monetary infrastructure, fully embedded in, and supervised by, the EU regulatory framework. By aligning with MiCA, the project is designed to deliver reserve transparency, regulatory certainty and enhanced market confidence, thereby reinforcing trust among institutional participants and investors. ✅ Potential Benefits 🔒 Greater institutional and retail confidence, underpinned by MiCA’s robust requirements for asset backing and supervision 🛡️ Enhanced market resilience through reduced fraud and more predictable regulatory outcomes 🌉 A pathway towards integration with the future digital euro, bridging traditional banking, blockchain-based solutions and central bank digital currency initiatives ⚠️ Potential Challenges 👁️ Reduced anonymity: with transactional data held by banks and accessible to regulators, some privacy-focused users may migrate offshore or turn to unregulated stablecoins, which could temporarily depress EU-based transaction volumes 🧪 Impact on innovation: independent issuers and decentralised finance (DeFi) pools may lose market share. The banking sector’s inherently cautious and conservative approach may slow the pace of experimentation and adoption of novel solutions 🏦 Systemic considerations: should liquidity consolidate around a banking-led stablecoin, the market could become more controlled but less agile. In times of financial stress, such tokens may pose systemic risk — effectively creating a “too big to fail” phenomenon within the digital asset sphere 🔮 Looking Ahead Europe is taking a decisive step towards the institutionalisation of its digital ecosystem. In the short term, this promises increased security, reduced fraud and greater market maturity. In the longer term, however, the implications include greater centralisation, reduced competitive diversity and enhanced regulatory control over transactions. The central policy challenge will be to strike an appropriate balance between security and market freedom — ensuring that robust regulation supports rather than constrains the sustainable development of the digital asset economy. Learn more at nur-legal.com #MiCA #Stablecoin #DigitalEuro #CryptoRegulation #FinTech #DeFi #BankingInnovation #DigitalAssets #EuropeanLaw #FinancialRegulation

👆🏼 𝐒𝐨 𝐄𝐮𝐫𝐨𝐩𝐞 𝐟𝐢𝐧𝐚𝐥𝐥𝐲 𝐝𝐞𝐜𝐢𝐝𝐞𝐝 𝐭𝐨 𝐬𝐭𝐨𝐩 𝐰𝐚𝐭𝐜𝐡𝐢𝐧𝐠!! Nine banks have teamed up to launch a MiCA-compliant euro token. Except… before you pop champagne: 💥 𝐍𝐨𝐭𝐢𝐜𝐞 𝐰𝐡𝐨’𝐬 𝐦𝐢𝐬𝐬𝐢𝐧𝐠: Europe’s household names - BNP, Santander, Deutsche. Instead, it’s a coalition of solid but mid-sized banks stepping up to fly the euro flag in digital assets. ⛓️💥 𝐈𝐭’𝐬 𝐚𝐧 𝐢𝐧𝐭𝐫𝐚-𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐩𝐫𝐨𝐣𝐞𝐜𝐭. Cross-border payments inside the eurozone might get faster, sure. But step outside Europe and good luck - the dollar still runs the show. 📢 𝐓𝐡𝐢𝐬 𝐢𝐬 𝐚𝐧 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭. A press release with aspirations. Europe’s CBDC is years away (2029 if you’re optimistic, according to ECB Executive Board member Piero Cipollone), and anyone who has seen EU decision-making knows consensus takes longer than most tech cycles. 𝘞𝘩𝘺 𝘪𝘵 𝘮𝘢𝘵𝘵𝘦𝘳𝘴 𝘢𝘯𝘺𝘸𝘢𝘺: 🗣️ 99% 𝐨𝐟 𝐬𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧𝐬 𝐭𝐨𝐝𝐚𝐲 𝐚𝐫𝐞 𝐝𝐨𝐥𝐥𝐚𝐫-𝐛𝐚𝐜𝐤𝐞𝐝. A regulated euro coin is at least a signal that Europe doesn’t want its financial plumbing outsourced to Washington and Silicon Valley forever. 📜 𝐌𝐢𝐂𝐀 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 means regulators can’t cry “Wild West” when payments run on-chain. ⌛ 𝐓𝐢𝐦𝐢𝐧𝐠 𝐜𝐨𝐮𝐥𝐝𝐧’𝐭 𝐛𝐞 𝐦𝐨𝐫𝐞 𝐝𝐞𝐥𝐢𝐛𝐞𝐫𝐚𝐭𝐞: the EU is buying itself a bridge until the ECB can roll out its own CBDC. So is this Europe saying “enough is enough” to dollar hegemony? Maybe. Or maybe it’s Europe doing what it does best - endless committees, white papers, and pilot programs while the rest of the world keeps moving. 👉🏼 𝘛𝘩𝘪𝘴 𝘮𝘰𝘷𝘦 𝘪𝘴 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵𝘪𝘯𝘨, 𝘣𝘶𝘵 𝘪𝘵’𝘴 𝘰𝘯𝘭𝘺 𝘰𝘯𝘦 𝘱𝘪𝘦𝘤𝘦 𝘰𝘧 𝘵𝘩𝘦 𝘱𝘶𝘻𝘻𝘭𝘦. 𝘞𝘦 𝘳𝘦𝘤𝘦𝘯𝘵𝘭𝘺 𝘤𝘰𝘯𝘥𝘶𝘤𝘵𝘦𝘥 𝘰𝘶𝘳 𝘥𝘦𝘦𝘱 𝘥𝘪𝘷𝘦 𝘰𝘯 𝘩𝘰𝘸 𝘌𝘶𝘳𝘰𝘱𝘦’𝘴 𝘭𝘦𝘢𝘥𝘪𝘯𝘨 𝘣𝘢𝘯𝘬𝘴 𝘢𝘳𝘦 𝘱𝘰𝘴𝘪𝘵𝘪𝘰𝘯𝘪𝘯𝘨 𝘵𝘩𝘦𝘮𝘴𝘦𝘭𝘷𝘦𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘢𝘴𝘴𝘦𝘵 𝘨𝘢𝘮𝘦. 𝘠𝘰𝘶 𝘫𝘶𝘴𝘵 𝘴𝘩𝘰𝘶𝘭𝘥𝘯'𝘵 𝘮𝘪𝘴𝘴 𝘵𝘩𝘪𝘴: https://lnkd.in/gVSXTnHZ #Europe #digitalassets #stablecoins

Europe has just taken a bold step into digital finance: the launch of its first private euro-based stablecoin. Unlike the vast majority of stablecoins, which are pegged to the US dollar, this one is anchored to the euro. The initiative was born in Amsterdam, backed by a consortium of nine banks, with more expected to join by year’s end. Among them are heavyweights like UniCredit and Banca Sella, making Italy one of the most represented countries in the project. The stated goal is clear: to offer stability, transparency, and a European alternative to dollar-dominated stablecoins. If successful, this could reshape how Europeans — and potentially the global market — think about digital money. But here’s the real question: why would anyone choose this new euro stablecoin if USDT already dominates liquidity worldwide?

The stated goal is clear: to offer stability, transparency, and a European alternative to dollar-dominated stablecoins. If successful, this could reshape how Europeans — and potentially the global market — think about digital money.

🌍 The stablecoin race is heating up! Last week, nine major European banks (including KBC and ING) announced the creation of a stablecoin pegged to the euro. The goal: enable instant, programmable, and competitive payments to counter U.S. solutions (ccording to Belgian magazine Trends). In the United States, Donald Trump turned stablecoins into a tool for capturing global savings. Out of nearly $300 billion in stablecoins circulation, only €620 million is denominated in euros (according to the Central Bank of Italy in an article by French newspaper LeMonde). In Europe, the ECB is also pushing its digital euro, while private banks pursue their own projects. The outcome? Fragmentation and slow decision-making… in a space where agility is crucial. What is at stake here? I guess retaining European savings to finance growth, avoiding deeper dependence on the digital dollar, and keeping Europe’s banking sector competitive. 🤔 What do you think — will the future lie in an ECB-led digital euro or in private bank-issued stablecoins? #Crypto #Stablecoin #Banking #Finance #Innovation #Europe #DigitalEuro

Bertram Seitz, CEO of the stablecoin service provider Aryze, thinks that the Euro stablecoin being planned by nine European banks, is a turning point and reflects a green stamp on stablecoins from the bank sector. These are the comments from Seltz: “For me and Aryze, this moment feels like a real turning point. We’ve been building for years to get the infrastructure, governance, and compliance right. Now we see the largest financial institutions moving in the same direction - it’s a strong validation of what we believed all along. Europe’s biggest banks have now put a green stamp on stablecoins. The future isn’t far off anymore — it’s arriving. When regulated institutions lean in, money gets faster, cheaper, programmable, and always-on.” Aryze is a Danish, but global-reaching, player in the stablecoin market, which Bertram Seitz describes like this: “We’ve built the rails and controls to launch fully backed stablecoins in days, with monthly Grant Thornton audits and enterprise-grade governance.” Here you can read our main article (in English) about SEB and Danske Bank, which together with seven other banks are now joining forces on a Euro stablecoin: https://lnkd.in/d2vHJB_m