Overview
- Consortium members include ING, UniCredit, BNP Paribas, CaixaBank, BBVA, DekaBank, DZ BANK, Banca Sella, KBC, Danske Bank, SEB, and Raiffeisen Bank International.
- The design pledges full 1:1 euro backing with at least 40% held as bank deposits and the remainder in short‑maturity euro‑area sovereign bonds at regulated custodians, with 24/7 redemption rights.
- Technical rollout begins on Ethereum as an ERC‑20 token with planned expansion to Polygon and Base, using a permissioned layer that restricts holding and transfers to pre‑verified participants.
- Distribution is slated through shareholder banks for corporate and institutional clients alongside MiCA‑compliant exchanges, with Spain-based Bit2Me confirming discussions with a participating bank.
- The project targets real‑time cross‑border payments and the cash leg for tokenized assets, with a commercial debut in the second half of 2026 dependent on regulatory clearance.