Derived from CryptoValleyJournal, a coalition of ten major European banks, including ING, UniCredit, and BNP Paribas, has announced the launch of a euro-backed stablecoin project named Qivalis. Based in Amsterdam, the company plans to apply for an Electronic Money Institution (EMI) license with the Dutch central bank and aims for a market launch in the second half of 2026, pending regulatory approval. The euro stablecoin is intended to modernize Europe’s payment infrastructure and reduce reliance on US dollar-based stablecoins. Qivalis, led by a former Coinbase executive, will be interoperable with existing banking systems and aims to build a team of 45–50 employees within 18–24 months.
Ten Major European Banks Launch Euro Stablecoin Project Qivalis
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