Crypto

ING, UniCredit join group of banks to launch euro stablecoin

Nine European banks have joined forces to cash in on growing demand for crypto payments

The Dutch lender will work on a fresh alternative to dollar-dominant offerings
The Dutch lender will work on a fresh alternative to dollar-dominant offerings Photo: Bloomberg/Getty Images

ING, UniCredit and Danske Bank are among nine firms that have partnered to develop a euro-denominated stablecoin.

Other banks participating in the initiative are Banca Sella, KBC, DekaBank, SEB, CaixaBank and Raiffeisen Bank International, according to a 25 September announcement.

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