Europe's bank-backed stablecoin; Ripple gets a win in Singapore

Key insights: A group of European banks are teaming to issue a euro-backed stablecoin. What's at stake: Most current stablecoins are U.S. dollar-backed, creating pressure on banks in other countries to offer a local alternative. Forward Look: The stablecoin is expected to launch in 2026. While U.S. dollars have been the primary reserve backing most stablecoins, there are efforts in other countries to diversify the supporting assets.  A group of European banks this week advanced work on a euro-backed stablec ...