07:29 AM EDT, 09/25/2025 (MT Newswires) -- ING (ING) is among the nine major European banks that have formed a new company to launch a euro-denominated stablecoin, the group said Thursday.

The other members of the consortium are Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank and Raiffeisen Bank International. The consortium said it's open to more banks joining.

The stablecoin will be regulated by the European Union's Markets in Crypto-Assets Regulation and is expected to be first issued in H2 2026.