Banco Santander SA is exploring a stablecoin launch via its digital banking unit, Openbank. The stablecoins will be pegged to the euro or US dollar, contingent on regulatory approvals.
Stablecoins like USDC and USDT are becoming popular in Latin America as a safeguard against local currency depreciation, especially in countries like Argentina and Brazil.
The Openbank platform may offer crypto trading services across Spain, Germany, Portugal, and the Netherlands, pending licensing under the EU’s MiCA regulations.
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