Group of European banks announce euro stablecoin plans

Raiffeisen Bank International AG

02/12/2025 09:43

PARIS/MADRID, Dec 2 (Reuters) - A group of ten European banks, including heavyweights ING INGA.AS and UniCredit CRDI.MI have formed an Amsterdam-based company to launch a euro-pegged stablecoin, in a move they hope will help counter U.S. dominance in digital payments.

The CEO of the new company will be Jan-Oliver Sell, who previously worked at Coinbase in Germany. ING's digital asset lead Floris Lugt will be CFO, and former NatWest chair Howard Davies will be chair, the group said at a press conference in Amsterdam on Tuesday.

BNP Paribas has also joined the group, which was first announced in September, the new company's CFO announced.

 (Reporting by Elizabeth Howcroft and Jesus Aguado; editing by Emma Pinedo)

 ((Elizabeth.Howcroft@thomsonreuters.com; +44 02075427104;))