Banks Aim to Capture Stablecoin Market Share Post EURt's Closure by Tether

Banks Aim to Capture Stablecoin Market Share Post EURt's Closure by Tether

user avatar

by Giorgi Kostiuk

2 years ago

Traditional banks are seeking opportunities in the stablecoin market following Tether's discontinuation of EURt.

What Happened to EURt

Tether Holdings announced in November the discontinuation of the EURt stablecoin in line with the new European regulatory MiCA guidelines. EURt struggled to find traction in the market, leading to its closure.

Emergence of New Players

Banks such as Societe Generale-Forge and Revolut are actively developing their own euro-denominated stablecoins after EURt's exit. The European MiCA regulation provides these companies and banks with clear guidelines for issuing their stablecoins.

We are actively engaged with a number of banks across the world at various stages of the process.Cuy Sheffield, Head of Crypto at Visa

Global Stablecoin Trends

Companies worldwide, including Visa, are also exploring stablecoin issuance opportunities. JPMorgan Chase is exploring deposit tokens as an alternative to stablecoins. Regulatory standards and reserve stability remain crucial factors.

Despite regulatory challenges, banks clearly see a promising niche in the stablecoin market, which drives them towards expansion in this direction.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Meta's Board Approves New Class of Nonvoting Stock

Meta's board has approved the creation of Class C nonvoting shares to be distributed to existing Class A and Class B shareholders, effective January 19, 2027.

user avatarLi Weicheng

Meta's Financial Strategy Ensures Founder Control

Meta's financial strategy includes plans to potentially raise hundreds of billions in equity while ensuring Mark Zuckerberg retains control over the company.

user avatarAisha Farooq

BitGo Introduces BitGo Labs to Innovate in AI and Cryptocurrency

BitGo has launched BitGo Labs to develop AI-integrated applications for its digital asset infrastructure, starting with the Gokubu app.

user avatarTenzin Dorje

TRON Solidifies Its Position as a Leading Blockchain Network for Stablecoin Settlement

In Q3 2026, TRON reinforced its position as a leading blockchain network for stablecoin settlement, achieving trillions in transaction volume and a record supply of USDT.

user avatarBayarjavkhlan Ganbaatar

Dogecoin Labs Announces New Organizational Structure for Commercial Development

Dogecoin Labs has announced a new organizational structure to enhance its commercial development by merging consumer products and application infrastructure.

user avatarMohamed Farouk

Solana Implements New Consensus Protocol to Enhance Transaction Speed

Solana has activated a new consensus protocol, significantly reducing transaction finality time.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.