PANews reported on December 2nd, citing Reuters, that ten major European banks, including ING and UniCredit, have formed an Amsterdam-based company to launch a stablecoin pegged to the euro, a move expected to help them counter the US dominance in digital payments. The group announced at a press conference in Amsterdam on Tuesday that Jan-Oliver Sell, formerly of Coinbase in Germany, will serve as the new company's CEO. Floris Lugt, ING's head of digital assets, will become CFO, and Howard Davies, former chairman of NatWest, will serve as chairman. The new company's CFO announced that BNP Paribas has also joined the group , a move initially announced in September.