Santander Weighs Crypto Push With Early-Stage Stablecoin Plans

Banco Santander SAis mulling an expansion in digital assets, including early-stage plans to offer a stablecoin as well as access to cryptocurrencies for retail clients of its digital bank, as European lenders push deeper into the sector.

The stablecoin plans are still at an early stage, said people with knowledge of the matter, asking not to be named discussing private deliberations. The Spanish lender’s online banking unit Openbank has applied for licenses to offer retail crypto services under the European Union’s new regulatory regime, one person said.

Santander’s efforts are the latest sign of how European banks are starting ...