There is new movement regarding European stablecoins – the European Stablecoin Alliance has just finalized significant personnel arrangements.

The CEO position is taken over by Jan-Oliver Sell, who previously worked at a leading exchange in Germany and is considered an old Web3 veteran. On the CFO side, Floris Lugt, the head of digital assets at ING Bank, has been directly appointed. The most impressive is the chairman—Howard Davies, former chairman of the UK's National Westminster Bank, has come out of retirement. The addition of a traditional finance giant of this caliber carries significant weight.

Let's take a look at who stands behind the platform: ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank... all prominent traditional European banks. This lineup clearly indicates that they intend to play seriously within a compliance framework; traditional finance definitely does not plan to be absent from this wave of stablecoin deployment in Europe.