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Dutch banking giant ING is reportedly developing a euro-backed stablecoin in collaboration with traditional financial institutions and crypto service providers. The initiative aligns with the EU’s MiCA regulation, which sets strict compliance standards for stablecoin issuers.
- ING's euro stablecoin project is progressing slowly as participating firms await board approvals.
- MiCA regulation is driving traditional banks to enter the stablecoin market with strict compliance requirements.
- US and European banks are increasingly adopting stablecoins for cross-border payments and financial infrastructure.
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