Report Says ING Is Developing a Euro-Based Stablecoin Under MiCA Rules

Dutch banking giant ING is quietly laying the groundwork for a new stablecoin project, teaming up with players from both traditional finance and the crypto space to carve out a place in Europe’s tightly regulated digital asset sector. As reported by Ian Allison at Coindesk, citing two anonymous sources, the initiative remains in its infancy, with ING exploring a consortium model alongside unnamed partners. Progress, however, hinges on board-level approval to launch a joint venture—signaling a methodical, deliberately paced strategy. The effort falls under the purview of the Markets in Crypto-Assets (MiCA) regulation, which came into force in 2024 and sets a high bar for stablecoin issuers.