Nine European banks aggregate to launch a stablecoin in euros compliant Mica, dedicated to the crypto, thought on-chain. The consortium brings together ING, Banca Sella, KBC, Danske Bank, Dekabank, Unicredit, Seb, Caixabank and Raiffeisen Bank International. First issue targeted: second half of 2026.
In short
- Nine European banks will launch a Stablecoin in euros compliant Mica, the first program scheduled S2 2026.
- 24 -hour programmable payments, reduced costs, alternative to the Stablecoins market dominated by the dollar.
- Open initiative, bridge between traditional finance and defi, case of use B2B, strict reinforced regulatory compliance.
A European bet on Crypto programmable currency
This token does not only want to exist. It aims to become the European standard for digital payments, despite a recent major crypto security flaw. Banks promise instant regulations, reduced costs, availability 24/7, and programmability, revolutionizing global finance and supply chain.
The stake is strategic. The dollar today massively dominates the world market for stablecoins. Europe creates payment rails in regulated euros, securing infrastructure and capturing crypto flow.
Because a standard only exists if all the actors share it, Banks open the way And invite other establishments to join the Tour de Table. The goal is clear. Create a European alternative, a real infrastructure brick, robust, not a simple marketing gadget, widely adopted by industry.
Mica, governance and calendar: user manual
Rather than tinkering, the banks have set up a company dedicated to the Netherlands. It will request an approval of an electronic currency Crypto, under Dutch supervision, anchoring the Mica token. It is the right playground, with known rules, clarified buyout rights and prudential nets.
On the timing side, the milestone is laid, with a first program in the second half of 2026. This tempo makes it possible to assemble the crypto battery, governance, reserves, subscription/buyout, compliance, integrations with depositaries and PSP.
Each bank will offer value-added bricks: crypto portfolios, conservation, business services, sequestration, conditional payments, on-chain cash. The interest is to bring programmability into the heart of business cash systems, for crypto flows without friction or regulatory puzzle.
Stablecoin: competition, market and second order effects
Let's put the numbers on the table. Stablecoins in euros represent only a fraction of the $ 300 billion in global capitalization, almost all of which is denominated in US dollars. This new token precisely targets this asymmetry. However, he will arrive in a context where the ECB remains vigilant about the risks of monetary and financial stability linked to the stablecoins. Clearly, the design should be impeccable.
To start, this calendar is not isolated. Indeed, this week, Société Générale-Forge chose Bullish Europe as the first place of quotation for its stablecoin labeled in USDCV dollars, counterpart in dollars of its EURCV launched in 2023. At the same time, the European ecosystem is structured from above, with banking issuers that put their rails under Mica and test liquidity on regulated platforms.
A clean bridge is emerging between traditional finance and decentralized finance. If the liquidity follows, we will see DVP regulations of token securities, supplier payments programmed to the near block, cash flows that arbitrate in T+0 and uses of the cryptocurrency in B2B which finally leave the laboratory. Yes, the road is long, but the course is clear and, this time, it is the banking industry itself that holds the steering wheel.
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