Citing CoinRepublic, a consortium of 10 major European banks has formed Qivalis, a new company based in Amsterdam, to issue a euro-pegged stablecoin. The initiative, announced on December 2, aims to counter the dominance of US dollar-backed stablecoins in the global payments market. The stablecoin is expected to launch in the second half of 2026 after obtaining an Electronic Money Institution license from the Dutch central bank. Founding members include ING, BNP Paribas, and UniCredit, among others. The project aligns with the EU’s Markets in Crypto-Assets regulation and targets use cases such as B2B payments and cross-border settlements.
10 European Banks Form Qivalis Consortium to Launch Euro Stablecoin by 2026
The Coin RepublicShare
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