Group 1 - Nine European banks have formed a consortium to launch a euro-backed stablecoin, expected in the second half of 2026, including major players like ING, Banca Sella, and UniCredit [1][2] - The stablecoin will be regulated under the EU's Markets in Crypto Assets (MiCA) framework, aiming to provide a European alternative to the US-dominated stablecoin market [1][3] - A new company has been established in the Netherlands to manage the stablecoin project, with plans to obtain licensing as an e-money institution from the Dutch Central Bank [2][4] Group 2 - The stablecoin is designed to facilitate near-instant transactions at lower costs, enhancing access to cross-border payments and digital asset settlements [3][4] - The European Central Bank (ECB) has noted that euro-denominated stablecoins currently have a market capitalization of less than €350 million ($410 million), highlighting their marginal presence compared to US dollar-based stablecoins [6] - ECB President Christine Lagarde has called for stricter regulations on non-EU stablecoin issuers to address gaps in the MiCA framework, amid increasing pressure for a digital euro [6][7]