On September 25, 2025, nine European banks formed a consortium to develop a euro-backed stablecoin, set to launch in the second half of 2026. The consortium has created a new Netherlands-based company to issue the token. The central European banks forming the consortium include UniCredit (Italy), ING (Netherlands), DekaBank (Germany), Banca Sella (Italy), KBC Group (Belgium), Danske Bank (Denmark), SEB (Sweden), CaixaBank (Spain), and Raiffeisen Bank International (Austria). The goal is to challenge dollar dominance in stablecoins. The current stablecoin market is almost entirely dominated by the US dollar via $USDT ($173B market cap) and $USDC ($74B). Thus, most global crypto and digital payments rely on USD rather than EUR. Another possible reason could be Europe’s intention to attain strategic autonomy. Europe stepping in with its own stablecoin is seen as an effort to create an alternative to $USDT and $USDC, while also regaining control over digital payments and settlements. As Europe takes a bold step towards launching its own stablecoin, investors’ interest in crypto projects and utility-driven tokens with real momentum is rising. One standout is Best Wallet Token ($BEST) , a token backing a mobile-first crypto wallet. It’s currently in presale, having raised over $16.1M to date. Europe’s Big Push for Regulated Euro Stablecoins and Digital Sovereignty With the EU’s MiCA regulation offering a clear framework for stablecoin issuance, Europe has a safer backdrop to launch euro-backed stablecoins. This context already makes for an optimistic outlook. In light of the news, several European leaders and officials also voiced their positive opinions on a Euro stablecoin: Floris Lugt, ING’s digital assets lead, noted that stablecoins can speed up cross-border payments and cross-currency settlements. A recent ING press release covering Lugt’s statement went on to further explain how stablecoins can automate business transactions and improve supply chain payments. Similarly, ECB Governing Council member Joachim Nagel called the digital euro an essential milestone for EU financial sovereignty. Francois Villeroy de Galhau , Governor of the Bank of France, warned that if Europe falls behind the US stablecoin’s growth, the continent risks being dominated by private, dollar-backed stablecoins in the future. The EU’s bold new move is welcomed by retail and institutional investors worldwide considering the potential growth of the stablecoin market, with analysts estimating stablecoins potentially handling $100T–$200T in annual payments by 2030 . The growth of stablecoins may not only benefit banks but also boost demand for secure stablecoin wallets and related utility tokens, such as Best Wallet Token ($BEST) , which is already undergoing a booming presale. Its wallet app already powers onramping, secure storage, transfers, and swaps for stablecoins and other tokens across top blockchains. Best Wallet Token ($BEST) – Utility Crypto with a Secure, Multi-Chain Wallet and DeFi Features Best Wallet Token ($BEST) is the native token of Best Wallet, a top-notch multi-chain asset storage offering seamless access to crypto onramping, DeFi platforms, and integrated decentralized swaps. Within this ecosystem, $BEST provides exclusive holder benefits, including: Governance rights, Reduced trading fees, Higher staking rewards in the upcoming staking aggregator, Access to vetted Stage Zero presales in the app’s launchpad. Learn more about Best Wallet Token with our guide. Then, we have Best Wallet , which is on a mission to capture 40% of the crypto wallet market by the end of 2026. As with any scaling crypto storage ecosystem, Best Wallet has built its own token to keep users engaged, fund growth, and build community ownership. The Best Wallet ecosystem itself stands out as a highly promising platform thanks to its comprehensive roadmap. It includes upcoming features such as the staking aggregator we mentioned, plus a crypto debit card, integrated market analytics, and derivatives trading. By the end of stage 4, this app will be an all-in-one crypto solution for retail traders. Backed by this vision, the $BEST token provides investors with direct exposure to the ecosystem’s growth. For early investors, it offers the added advantage of securing tokens at a lower price, positioning them to benefit most as the Best Wallet expands into multi-chain finance. $BEST Token Presale Is Booming, Attracting Whale Buyers $BEST’s presale has gained strong momentum, already raising $16.1M. Whales are now circling in, staking their bags with $BEST worth $70.2K and $50.9K , a clear reflection of the project’s strong upside potential. With the token currently priced at $0.025695 and our $BEST price prediction forecasting 98% growth in 2026, this could make a good long-term play for investors who seek to diversify. If our expert $BEST predictions come to fruition, a $500 investment in $BEST today could grow to around $685 by the end of 2025 (at $0.035215) and nearly $994 by 2026 (at $0.05106175) in price appreciation. New adopters can also lock in dynamic staking rewards (currently 82% APY). But rewards will naturally taper as more participants join, making the earliest investors the biggest winners. With staking at 82% APY and considering the most bullish forecasts, your $500 investment today could swell to roughly ~$1,808 after one year ($814.76 of that coming from staking rewards alone). This is assuming the APY and prediction hold. With the subsequent presale price rise set for tomorrow, now is the chance to secure $BEST at lower-tier prices. Visit the $BEST token presale now. This is not financial advice. Always do your own research before investing in crypto, as the market is highly volatile. Authored by Aaron Walker, NewsBTC — https://www.newsbtc.com/news/9-european-banks-stablecoin-consortium-fight-dollar-dominance/
