"Santander Considers Issuing Stablecoin… Accelerating Expansion into Digital Asset Business"

It has been reported that Santander, a major European bank, is officially considering expanding its digital asset business, including the issuance of stablecoins.

On the 29th (local time), Bloomberg reported, "Spain’s leading bank Santander is actively reviewing expanding its digital asset services, including the issuance of its own stablecoin." According to the media, Santander's online specialist bank, Openbank, has already applied for a license to provide cryptocurrency services to retail investors under the European Union (EU)'s new regulatory framework for crypto-assets (MiCA).

In addition, Santander is reportedly internally discussing various options, such as issuing its own stablecoins based on the euro and the US dollar or providing access to existing tokens. In particular, demand for dollar-based stablecoins is high among Santander's emerging market clients, such as in Latin America, increasing the likelihood of an actual launch.

The media outlet stated, "As President Trump's pro-cryptocurrency stance and the active discussion of stablecoin bills are gaining momentum in the United States, major European banks are also moving to enter the stablecoin market."

Meanwhile, Santander is recognized as one of Europe’s representative banks, having actually implemented Ripple’s payment technology in the past. The bank is a leading adopter of blockchain in the traditional financial sector, having proactively pushed initiatives such as developing blockchain-based payment apps and running bond tokenization pilot projects.