European Banking Consortium Qivalis Plans 2026 Euro Stablecoin Launch, Seeks Exchange Partners

Qivalis, launched by major European banks including ING, UniCredit and BBVA, aims to create a euro-denominated payment and settlement instrument under the EU's MiCA framework. The initiative seeks to provide a regulated, homegrown stablecoin, reduce Europe's crypto market reliance on U.S. dollar stablecoins and strengthen the euro's role in digital finance.

Qivalis plans to launch the euro stablecoin in the second half of 2026. Participation has grown from an initial 12 institutions to 37, an increase of 25 banks. The consortium is also using Fireblocks technology to build MiCA-compliant infrastructure and is in talks with crypto exchanges and liquidity providers over distribution partnerships. The issuance amount and supply have not been disclosed.