Bitcoin

Nine Major European Banks Team Up for Euro Stablecoin Under MiCA Framework

Published

2 months ago

September 28, 2025

A consortium of nine prominent European banks has announced plans to launch a euro-pegged stablecoin, marking a pivotal step in integrating traditional finance with blockchain under the EU’s Markets in Crypto-Assets (MiCA) regulation. This initiative aims to provide a stable, compliant digital asset for cross-border payments and settlements, potentially revolutionizing the continent’s financial landscape.

The stablecoin, backed 1:1 by euro reserves, will prioritize transparency and regulatory adherence, addressing concerns over volatility and illicit use that have plagued some existing tokens. By leveraging MiCA’s guidelines, the banks seek to foster trust among institutions and consumers, facilitating smoother transactions in e-commerce, remittances, and treasury management.

This collaboration highlights the growing convergence of banking and crypto, as legacy institutions recognize blockchain’s efficiency gains. It could challenge dominant stablecoins like USDT and USDC, especially in euro-denominated markets. Analysts predict widespread adoption if the project clears regulatory hurdles, potentially unlocking billions in locked capital.

Challenges include technological integration and competition from non-bank issuers. However, the backing of established banks lends credibility, possibly accelerating mainstream acceptance. For the broader crypto space, this signals maturing regulations that could attract more institutional capital. Investors should watch for launch timelines and partnerships, as success here could set precedents for similar ventures worldwide.

Bitcoin

Indonesia’s Crypto Sector Poised to Contribute $16.5 Billion to National Economy

Published

15 minutes ago

November 18, 2025

Coin Reporter Correspondent

Indonesia’s cryptocurrency industry is on the verge of becoming a major economic engine, with new research projecting it could inject up to Rp260.36 trillion ($16.5 billion) into the national economy over the coming years.

The forecast, released jointly by the Indonesian Blockchain Association (ABI) and the Ministry of Trade’s Commodity Futures Trading Regulatory Agency (Bappebti), marks the first official government-backed estimate of crypto’s full economic footprint, including direct trading revenue, infrastructure spending, job creation, and downstream effects in tourism, education, and tech services.

From Retail Frenzy to Institutional Maturity

Indonesia now ranks among the top five countries globally for raw crypto ownership, with over 19 million verified accounts on licensed exchanges as of October 2025, up from 6 million just three years ago.

Daily trading volume across the country’s 25 Bappebti-registered platforms routinely exceeds $1 billion, led by Tokocrypto, Indodax, and Pintu. The majority of activity is concentrated in Bitcoin, Ethereum, and local rupiah-backed stablecoins, reflecting genuine utility rather than pure speculation.

The report highlights four key growth channels:

Direct tax and fee revenue from licensed exchanges (already contributing Rp4.7 trillion in 2024)
150,000+ new skilled jobs in development, compliance, customer support, and marketing
Infrastructure investment: data centers, mining operations in Sumatra and Kalimantan powered by excess geothermal and hydro energy
Tourism spillover: Bali and Batam emerging as popular destinations for crypto conferences, remote workers, and digital-nomad communities

Government Support Turning Decisive

The Ministry of Trade has signaled it will propose a dedicated “Digital Asset Economic Zone” pilot in 2026, offering tax incentives and streamlined licensing for blockchain companies that establish headquarters or mining facilities in underdeveloped regions.

Coordinating Minister for Economic Affairs Airlangga Hartarto stated during the report launch: “Crypto is no longer a fringe activity in Indonesia; it is a strategic sector that can accelerate financial inclusion and create high-value employment for our youth.”

A Model for Emerging APAC Economies

If the $16.5 billion projection is realized, crypto would contribute roughly 1.2–1.5% of Indonesia’s total GDP by 2030, comparable to the current impact of the palm-oil export industry.

Industry leaders see the numbers as conservative. With planned upgrades to cross-border stablecoin corridors for migrant workers in Singapore, Malaysia, and the Middle East, plus growing interest from state-owned enterprises in tokenized commodities, many believe the true figure could climb far higher.

From street-level traders in Jakarta using crypto wallets to geothermal miners in Sulawesi, Indonesia is demonstrating that large emerging markets can transform grassroots adoption into measurable national wealth.

The $16.5 billion headline is just the beginning.

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