Sabadell and Bankinter to Join European Stablecoin Consortium

Spain-based Sabadell and Bankinter will join a European-level stablecoin consortium, according to Expansion. Stablecoins, a subset of digital currencies, are crypto assets pegged to fiat currencies. Establishing a consortium in Europe aims to enhance the reliability, transparency, and regulatory compliance of these assets. The participation of Sabadell and Bankinter is seen as a step driving the digital transformation of the banking sector. The consortium will allow member banks to conduct stablecoin transactions through a shared infrastructure, thereby reducing transaction costs and expanding financial inclusion. This news is based on a report from Expansion. It is not investment advice.