Spain's Santander Bank is considering entering the crypto space and is formulating preliminary stablecoin plans

Banco Santander SA is considering expanding its business in digital assets, including preliminary plans to launch a stablecoin and offer cryptocurrency services to retail customers of its digital bank, as major European banks accelerate their deployment in the sector, Bloomberg reported. The stablecoin plans are still in the early stages, according to people familiar with the matter. The people asked not to be named because the discussions are private. Openbank, an online banking subsidiary of Santander, has applied for a license under the latest European Union regulatory framework to provide crypto services to retail customers, one of the people said.