Santander Bank in Spain plans to launch a stablecoin, and its subsidiary has applied for a cryptocurrency license

According to Bloomberg, Spanish financial giant Santander is considering expanding its digital asset business. Its digital bank Openbank has applied for an encryption license under the EU MiCA framework and will provide stablecoin and cryptocurrency services to retail customers as early as this year. The bank is evaluating the feasibility of issuing stablecoins denominated in euros and US dollars, or adopting self-developed or integrated stablecoin solutions.