Qivalis Adds 25 Banks Across 15 Countries for Euro Stablecoin Launch in H2 2026
Updated
Updated · Markets Media · May 20
Qivalis Adds 25 Banks Across 15 Countries for Euro Stablecoin Launch in H2 2026
16 articles · Updated · Markets Media · May 20
Qivalis has expanded to 37 financial institutions in 15 European countries after adding 25 new members, including Banco Sabadell, ahead of its first euro-linked stablecoin issuance planned for the second half of 2026.
The consortium said the token will be fully backed by euro reserves on a 1:1 basis, issued under EU MiCA rules and supervised by the Dutch central bank once Qivalis secures e-money authorization.
Qivalis is pitching the stablecoin as infrastructure for 24/7 low-cost cross-border payments and automated settlement of tokenised assets such as bonds, aiming to cut friction and counterparty risk.
The push comes as stablecoins exceed $290 billion globally, while euro-linked tokens make up just 0.2% of circulation despite the euro accounting for roughly 20% to 25% of traditional FX transactions.
Qivalis says the broader banking base is meant to give Europe a native on-chain settlement network and strengthen strategic autonomy in digital finance under European rules.
Can Europe's new bank-led digital euro challenge the global dominance of US dollar stablecoins?
With a private euro stablecoin launching in 2026, will the ECB's official Digital Euro arrive too late?
Qivalis Consortium Grows to 37 Banks: Europe’s Strategic Push for a MiCAR-Compliant Digital Euro
Overview
Qivalis is rapidly becoming a key European initiative, aiming to strengthen the euro’s role in the digital economy. The consortium has expanded significantly, now including major banks like BNP Paribas, which highlights growing collaboration and commitment to building a robust digital asset infrastructure. With experienced leadership from Howard Davies, Qivalis is strategically positioned to address concerns about digital dollar dominance by developing a regulated, euro-denominated stablecoin. This effort aligns with calls from European leaders to promote euro-based digital assets, ensuring Europe’s monetary sovereignty and providing a credible alternative to foreign stablecoins in the evolving digital finance landscape.