PANews reported on April 22 that according to CoinDesk, people familiar with the matter revealed that Dutch bank ING is developing a stablecoin, hoping to take advantage of the new European cryptocurrency regulations that came into effect last year. ING's stablecoin project may take the form of an alliance involving other banks and crypto service providers. A source said: "ING is working with several other banks to develop a stablecoin project. Because multiple banks need board approval to form a joint venture entity, the project is progressing slowly."
Dutch bank ING is working with other TradFi and crypto firms to develop a new stablecoin, according to people familiar with the matter.
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