Stablecoins expand into banking to transform Europe-Latin America payments

Stablecoins are increasingly being integrated into the traditional banking and fintech sectors to transform international payments, particularly between Europe and Latin America. Major financial institutions, including Santander, BBVA, and Western Union, are exploring these infrastructures to facilitate faster, 24/7 cross-border transfers and asset settlements.

Key initiatives include Qivalis, an alliance of 37 European financial institutions aiming to launch a euro-denominated stablecoin by the second half of 2026. Additionally, Santander is collaborating with a group of global banks—including Bank of America, Citi, and Goldman Sachs—to study digital money backed by G7 currency reserves on public blockchains. Western Union is also integrating USDPT, a dollar-denominated stablecoin built on Solana, to enhance its international remittance and payment network.