12 European Banks Unite Under Qivalis to Launch Euro Stablecoin in 2026

Qivalis plans to launch a fully backed euro stablecoin in 2026, aiming to reduce EU reliance on dollar-based digital tokens.

Leading European banks have joined forces to issue a euro-pegged stablecoin through a consortium called Qivalis. Planned for 2026, the project reflects a strategic shift by established lenders toward digital assets. The goal is to create a credible euro alternative in a market led by U.S. dollar tokens.

Qivalis Targets 2026 Launch as Euro Stablecoin Eyes Regulated Listings

European banks are developing a euro-pegged stablecoin and are already in advanced talks. The goal is to have the token listed on regulated platforms and supported by strong liquidity from day one.

Several major European banks, including ING, UniCredit, BNP Paribas, CaixaBank, and BBVA, are involved. The Netherlands-based consortium has applied for approval from the Dutch central bank under the EU’s MiCA framework. Once authorized, the stablecoin could operate across the European Union under a single regulatory structure.

The token will be fully backed at 1:1 with the euro. At least 40% of reserves will be held in bank deposits, while the remaining 60% will be invested in short-term sovereign bonds issued by different eurozone countries. This structure is intended to maintain stable, diversified reserves. Holders will also have access to 24/7 redemption.

At the same time, Qivalis is in advanced discussions with crypto exchanges, market makers, and liquidity providers. According to CEO Jan Sell, listing on regulated trading platforms from launch is a priority. Early exchange support is viewed as key to building liquidity and market depth.

Spanish exchange Bit2Me confirmed talks with one of the participating banks. Beyond Europe, the consortium is also reviewing international venues to broaden the token’s reach.

Stablecoin Aims to Cut Dollar Dependence in EU Payments

Business-to-business payments across the euro area drive the strategy forward. By using a euro stablecoin, businesses could send payments via blockchain infrastructure without relying on traditional intermediaries.

As such, companies may gain faster cross-border settlement within the bloc. Global stablecoin markets remain heavily dominated by U.S. dollar-backed tokens. European banks view that reliance as a structural weakness in the region’s payment system.

A regulated euro-based alternative would offer businesses an option that does not depend on U.S. issuers or dollar infrastructure. At the policy level, European authorities are also working to strengthen monetary independence.

Meanwhile, the European Central Bank is developing a digital euro as a public initiative. While Qivalis operates in the private sector, its plans align with broader efforts to expand the euro’s role in digital payments.

The euro stablecoin still needs regulatory approval before launch, with a target set for late 2026. If approved, Qivalis would mark one of the largest joint efforts by European banks to enter the stablecoin market.

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