ING Develops Stablecoin Project as EU Crypto Regulations Take Shape

Dutch bank ING is venturing into the regulated world of digital currencies with the development of a stablecoin project under Europe’s new MiCA regulations. This move aligns with growing interest from traditional financial institutions to explore these opportunities, according to sources familiar with the initiative. CoinDesk reports that the project may involve a joint venture of banks and crypto service providers, though progress is currently hampered by the need for board approvals across all participating institutions.