European Corporates and Banks Forge Partnerships for Stablecoins
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The landscape for stablecoin adoption in Europe is evolving as financial institutions and businesses transition from theoretical discussions to practical implementations. The shift is being propelled by immediate market demands rather than abstract strategies.
Lamine Brahimi, a co-founder and managing partner at Taurus, a provider of crypto custody technology, explained that conversations surrounding stablecoins have transformed significantly over the past eighteen months. Initially, discussions were primarily educational, aimed at understanding the complexities and risks associated with stablecoins. However, a notable change is now underway, with companies at the board level giving the green light to launch stablecoin projects.
The introduction of the Markets in Crypto-Assets Regulation (MiCA) has played a pivotal role in this transition, as it establishes a unified regulatory framework, replacing the previously fragmented national regulations.
Brahimi noted that numerous stringent financial institutions across Europe have reached a similar conclusion: integrating digital assets, including stablecoins, within the existing banking structure is essential.
A significant demand driver is the corporate treasury departments, which are increasingly seeking solutions to streamline payments and settlements. Stablecoins are seen as a way to expedite fund transfers, reduce transaction costs, and facilitate operations beyond traditional banking hours.
According to Brahimi, this pragmatic approach to stablecoin adoption is becoming clearer. As clients express a need for improved settlement solutions and greater flexibility in cross-border transactions, the urgency for practical implementations grows.
In a recent development, ClearBank Europe emerged as the first Dutch credit institution to gain approval under MiCA to function as a provider of crypto asset services. Concurrently, a consortium of major banks, including ING, UniCredit, CaixaBank, and BBVA, is working on Qivalis, a euro stablecoin initiative that adheres to MiCA regulations, aimed at facilitating regulated on-chain payments and settlements across Europe.
European banks are making strides in stablecoin ventures as well. For instance, Societe Generale is utilizing stablecoins for cross-border payment solutions, on-chain settlement, and cash management. Additionally, Oddo BHF has launched its own MiCA-compliant euro stablecoin. Another consortium, consisting of ING, UniCredit, and BNP Paribas, is preparing to introduce a Swiss-franc stablecoin, expected to debut in the latter half of 2026.
Konstantin Vasilenko, co-founder and chief business development officer at Paybis, noted a significant upswing in the demand for stablecoin services across Europe. Between October 2025 and March 2026, transaction volumes for USDC within the EU surged by approximately 109%, with its market share rising from around 13% to 32%. Vasilenko pointed out that stablecoin purchases in the EU typically outpace sales, highlighting a trend towards using stablecoins for working capital and settlement activities.
A recent Chainalysis report indicates that stablecoin transaction volumes could potentially soar to $1.5 quadrillion by 2035, under optimistic growth scenarios. Such growth could stem from stablecoins becoming a predominant payment method and the wealth transfer from older generations to younger, more crypto-savvy individuals.
Will Harborne, CEO of the stablecoin infrastructure provider Rhino.fi, stated that stablecoins will increasingly play a crucial role in corporate treasury operations and facilitate cross-border settlements between euro and dollar stablecoins in the coming years. Harborne emphasized that businesses that prepare early for this shift will be best positioned to thrive as stablecoin usage becomes more mainstream.
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