Banco Santander eyeing crypto expansion with fiat-backed stablecoin
Banco Santander is exploring the development of a fiat-backed stablecoin and expanding its crypto offerings to retail clients, marking a potential new chapter in the bank’s digital asset strategy.
According to a May 29 Bloomberg News report, the initiative, still in its early stages, may include both US dollar and euro-pegged tokens.
Santander joins a cohort of major global banks, including JPMorgan and Citigroup, reassessing their role in the evolving digital currency landscape, following favorable regulatory shifts under President Donald Trump’s administration.
The bank’s digital subsidiary, Openbank, has applied for licenses to offer retail crypto services under the European Union’s Markets in Crypto-Assets (MiCA) regulation.
The…
