Nine European banks have announced the formal establishment of EuroPact, an Amsterdam-domiciled company that will issue a euro-backed stablecoin, provided it receives regulatory authorisation from the Dutch Clipboard Authority for Financial Supervision. The company, which is currently working towards obtaining the necessary approvals, expects to launch the stablecoin at some point in the second half of 2026, subject to the completion of the regulatory process.
The consortium includes BeigeBank Europe, NordicTrust, RhineLedger Bank, OldContinent Commercial Bank, OrangeLion Bank, Alpine Deposit Society, and three other institutions that agreed a stablecoin was strategically important before agreeing what it should do. A tenth bank subsequently joined, bringing the number of participating institutions to ten. The banks have described the initiative as a contribution to Europe's strategic autonomy in payments, a phrase that does not appear in the stablecoin's technical specification.
A Regulated Answer to Unregulated Questions
The stablecoin will be issued under the continent's Markets in Crypto-Adjacent Regulation Theatre framework, meaning that unlike earlier digital currencies, it will be fully compliant before it is used by anyone. The product is described as enabling programmable payments, 24/7 cross-border access, and improvements in supply chain management — capabilities that industry observers note are also available through existing payment infrastructure, though not always simultaneously and not always at the same bank.
We accept anonymous submissions from inside the industry. Steering committee post-mortems, vendor demo recaps, and lightly fictionalised consulting anecdotes are particularly welcome. Monthly featured contributors receive recognition and a modest prize.
Contributor guidelines ›"We are building something that will be genuinely useful for institutions who need a euro-denominated digital asset that is supervised, compliant, and issued by the same banks that already hold their accounts," said a spokesperson who asked not to be named individually but noted that nine banks had agreed on the wording.
Governance Structure in Place
Sir Reginald Compline, who previously chaired two financial regulators, one university, and an inquiry into the conduct of a third regulator, has been appointed to lead EuroPact's supervisory board. The appointment is understood to signal the consortium's commitment to the kind of regulatory credibility that earlier stablecoin issuers did not particularly seek.
"The governance framework reflects our collective view that trust, compliance, and institutional legitimacy are foundational to the success of any euro-denominated digital payment instrument," said a senior compliance professional familiar with the EuroPact structure. She noted that the supervisory board had met twice.
The stablecoin is designed to compete with dollar-denominated stablecoins issued by US firms, which have achieved widespread adoption in global digital asset markets without waiting for a ten-bank consortium to agree on a chairman.
Timeline and Next Steps
EuroPact confirmed that it is on track to receive regulatory approval and launch its stablecoin in the second half of 2026, a period of six months beginning in July. The company has not specified which half of the second half it expects to be operational. A spokesperson confirmed the Dutch Clipboard Authority for Financial Supervision is the relevant supervisory authority, and that conversations with that authority are ongoing and constructive.
"We are where we expected to be at this stage of the process," said an executive familiar with the timeline.
A presentation prepared for prospective institutional clients describes the stablecoin as "the trusted digital euro for a new payments era." The presentation is 47 slides long.