[Euro Stablecoin Alliance Appoints Former German Coinbase Executive as CEO] Ten major European banks, including ING and UniCredit, have established a company headquartered in Amsterdam with plans to launch a euro-pegged stablecoin to counter the dominance of the United States in the digital payments sector. The new company announced that Jan-Oliver Sell, who previously worked at Coinbase Germany, will serve as Chief Executive Officer, while Floris Lugt, ING's Head of Digital Assets, will take on the role of Chief Financial Officer. Former NatWest Chairman Howard Davies will serve as Chairman. Additionally, BNP Paribas has joined the group, and the initiative was first publicly disclosed as early as September this year.