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Qivalis to launch euro stablecoin by 2026 backed by major European banks
European banks aim to create a compliant digital asset to strengthen the euro's digital relevance and challenge US-led payment systems.
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.