Banco Santander is investigating entry into digital assets, focusing on a stablecoin for retail crypto access via Openbank. This is in preliminary stages, pending regulatory approvals under the MiCA framework.
Santander is evaluating issuing a proprietary stablecoin backed by the euro or U.S. Dollar, or providing access to third-party stablecoins. The global stablecoin market is valued at approximately 250 billion USD, with increasing institutional use.
The push aligns with a trend among European banks towards digital assets, supported by MiCA regulations. Santander’s investments in blockchain technology position it well for this transition.
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