Gate News message, April 24 — Three of Europe’s largest banks—ING, UniCredit, and BNP Paribas—are preparing to launch a joint euro-denominated stablecoin in the second half of 2026, built on Ripple’s infrastructure, according to crypto observer SMQKE.
The collaboration marks a significant move by systemically important financial institutions to integrate blockchain technology into core banking operations. A euro-backed stablecoin introduces direct competition to dollar-denominated alternatives like USDT and USDC, potentially reshaping cross-border payment and settlement dynamics.
Ripple’s footprint continues to expand. Approximately 60% of SWIFT-connected banks now have exposure to Ripple, signaling growing integration between traditional banking infrastructure and blockchain networks. Ripple’s own stablecoin, RLUSD, has gained bridge support via Wanchain, enabling interoperability across XRPL, Ethereum, and Cardano. With a market capitalization of roughly $1.5 billion, RLUSD is in early growth stages.
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