Santander, the largest bank in Spain, is preparing to expand into the crypto space under the EU's MiCA framework.
Santander aims to integrate regulated digital assets into its financial ecosystem, with its digital arm Openbank applying for licenses under MiCA.
The bank's stablecoin strategy, pegged to USD and Euro, may target emerging markets and facilitate transactions between traditional banking and digital finance.
Openbank, set to lead the crypto integration, plans to launch crypto services next year, potentially making Santander one of the first major European banks to deploy stablecoins at scale.