On May 29th, according to Bloomberg, as major European banks accelerate their layout in this area, Banco Santander SA of Spain is considering expanding its business in digital assets, including preliminary plans to launch stablecoins and provide cryptocurrency services to retail customers of its digital bank. Sources familiar with the matter said that the stablecoin plan is still in the early stages. As the discussions are of a private nature, these sources requested anonymity. One source revealed that Santander Bank's online banking subsidiary, Openbank, has applied for relevant licenses under the latest EU regulatory framework to provide encrypted services to retail customers.
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Spain's Santander Bank is planning to enter the crypto space and is developing a preliminary stablecoin plan
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