Qivalis consortium expands euro stablecoin project
6.6 Stablecoins Qivalis expands its euro stablecoin project to 37 banks, adding 25 new members from 15 countries. The MiCA-compliant launch is planned for late 2026, pending regulatory approval.
Qivalis, an Amsterdam-based consortium, has expanded its euro stablecoin initiative to include 37 European banks by onboarding 25 new institutions from 15 countries. Major players such as ABN AMRO, Rabobank, Nordea, and Intesa Sanpaolo have joined, significantly broadening the project's reach across Europe. The consortium aims to launch a MiCA-compliant euro stablecoin, offering innovative payment solutions and enabling the settlement of tokenized financial assets via blockchain technology. This move reflects the increasing interest among European banks to diversify the stablecoin market, which is currently dominated by U.S. dollar-pegged tokens. Spain stands out as the most represented country among the new members, highlighting strong regional demand for euro-denominated digital assets. Qivalis is seeking authorization as an electronic money institution from the Dutch central bank and plans a commercial launch in the second half of 2026, pending regulatory approval.
