Banco Sabadell and Bankinter Are Joining a European Stablecoin Consortium and the Move Signals That Banks Have Stopped Watching Tokenized Money and Started Building It
Spain's Banco Sabadell and Bankinter are joining a European stablecoin consortium under the MiCA regulatory framework, in a move that signals established commercial banks have shifted from observing crypto-native stablecoin issuers to directly building bank-backed euro-denominated tokenized money, driven by regulatory clarity from MiCA and competitive pressure from dollar stablecoins like USDT and USDC that are beginning to substitute for euro bank deposits in cross-border business payments and