Spanish bank Banco Santander is stepping up its game in the digital asset space with plans to launch a stablecoin and offer crypto services to retail customers. As Spain’s biggest bank and one of the world’s leading financial brands Santander is looking to expand through its digital arm Openbank which recently entered the US market.

The stablecoin project is still in early development but it signals Santander’s growing interest in blockchain and digital currencies. By offering new crypto services the bank aims to attract a broader base of retail clients and stay ahead in the evolving financial landscape.

Major global banks are increasingly entering the crypto space as demand for digital assets grows. Institutions like Barclays JPMorgan and Morgan Stanley are already moving into crypto investments and services. Santander is following suit by offering tokenization crypto custody and now a stablecoin to meet rising interest among both retail and institutional customers.

Bloomberg