A consortium of 12 European banks, in collaboration with Fireblocks, is developing the MiCA compliant euro stablecoin.

CoinFeed reported on April 21 that, according to Cointelegraph, a consortium of 12 European banks led by Qivalis has selected Fireblocks to provide infrastructure for developing a euro-denominated stablecoin compliant with the MiCA regulatory framework, targeting a launch in the second half of 2026, subject to approval from the Dutch Central Bank. This stablecoin will be issued as an electronic money institution under Dutch regulation, backed 1:1 by the euro, and will be targeted at institutional uses such as settlement, fund management, and tokenized assets. Fireblocks will provide tokenization technology, wallet infrastructure, and lifecycle management tools, including compliance features such as identity verification and sanctions screening.