Key Takeaways
- Qivalis, backed by a consortium of 10 major European banks, plans to launch a euro-pegged stablecoin by late 2026.
- The initiative aims to create a digital euro stablecoin as an alternative to US dollar-dominated assets, enhancing European financial sovereignty.
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Qivalis, a newly incorporated Amsterdam-based company established by a consortium of ten major European banks, announced today its plans to launch a euro-pegged stablecoin by the second half of 2026. The consortium includes major financial institutions such as ING, UniCredit, and BNP Paribas.
The company is currently pursuing authorization as an Electronic Money Institution from the Dutch Central Bank to enable legal issuance of the stablecoin under EU regulatory frameworks.
The initiative represents a strategic effort by European banks to reduce US dominance in digital payments by offering a bank-backed euro stablecoin alternative focused on seamless digital payment solutions.
Qivalis targets compliance with upcoming EU standards for stablecoin issuance, positioning itself within established regulatory frameworks for electronic money and payment services across Europe.
