PARIS/MADRID — Ten European banks, including major players ING and UniCredit, have created a new company in Amsterdam to introduce a stablecoin tied to the euro. The initiative aims to reduce reliance on U.S.-dominated digital payment systems.
Jan-Oliver Sell, formerly with Coinbase in Germany, will lead the firm as CEO. ING’s digital asset chief, Floris Lugt, will serve as CFO, while former NatWest chairman Howard Davies will head the board, the group revealed during a press briefing in Amsterdam on Tuesday.
BNP Paribas has now joined the consortium, which was initially unveiled in September, the CFO added.
Click here for more on Banking
