European Banks Collaborate to Launch Euro Stablecoin via Qivalis by 2026
Ten major European banks, including ING, UniCredit, and BNP Paribas, have formed Qivalis—a joint venture aimed at launching a euro-denominated stablecoin in the second half of 2026. The initiative seeks to reduce Europe's reliance on U.S.-dominated digital payment systems and enhance settlement efficiency in crypto trading.
Qivalis, headquartered in Amsterdam, is pursuing an Electronic Money Institution (EMI) license from the Dutch central bank, with approval expected within six to nine months. The company plans to expand its team to 50 employees over the next two years under the leadership of CEO Jan-Oliver Sell.
The move reflects growing institutional interest in blockchain-based financial infrastructure, potentially creating Ripple effects across decentralized finance (DeFi) and traditional markets. No direct coin or exchange mentions were identified in the context.
