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Spain’s Largest Bank Banco Santander Plans Stablecoin Launch

  • Banco Santander, Spain's largest bank, is expanding into the digital finance world by planning to launch stablecoins for euro and dollar in Latin America.
  • Openbank, the bank's digital division, is seeking a license under the EU's MiCA regulation to offer cryptocurrency services to retail clients.
  • Global banks like Barclays, BBVA, and JPMorgan are increasingly exploring stablecoins and digital assets, reflecting a wider trend in the banking sector.
  • The move towards stablecoins is driven by the rising demand for faster, cheaper payments and their utility in regions with low-value local currencies, with the global market for stablecoins surpassing $250 billion.

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