ING is developing a euro-backed stablecoin in collaboration with other banks, pending board and regulatory approvals. This stablecoin initiative indicates a positive shift in the perception of digital assets among European financial institutions.
The MiCA regulation transforms the stablecoin landscape in Europe, enforcing strict licensing and reserve requirements for issuers. ING’s move aligns with this trend, showcasing banks’ commitment to compliance and innovation in the digital currency space.
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