The Qivalis consortium, involving major European banks like BNP Paribas, ING, and UniCredit, is developing a regulated euro stablecoin for launch in 2026 under the EU’s MiCA framework. This initiative aims to enable secure, on-chain payments and bridge the gap in euro-denominated digital assets, addressing the dominance of U.S. dollar stablecoins.
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Qivalis, a Dutch-based entity, unites ten leading banks to issue a MiCA-compliant euro stablecoin by mid-2026.
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The stablecoin will support blockchain-based payments without traditional systems, focusing on instant cross-border settlements.
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Currently, euro stablecoins hold about 670 million in supply, far behind dollar-backed ones at over 300 billion, highlighting market potential for regulated euro options.
Discover how European banks are launching a regulated euro stablecoin in 2026 via Qivalis. Explore MiCA compliance, on-chain payments, and the push for euro digital finance. Read now for insights!
What is the Qivalis regulated euro stablecoin initiative?
The regulated euro stablecoin from Qivalis represents a collaborative push by ten major European banks to create a blockchain-native digital asset pegged to the euro. This project, headquartered in Amsterdam, seeks to provide a compliant alternative for digital payments under the EU’s Markets in Crypto-Assets (MiCA) regulation. By integrating fully with on-chain networks, it aims to streamline corporate settlements and reduce reliance on outdated payment infrastructures.
How will Qivalis address the euro stablecoin market gap?
The Qivalis initiative directly tackles the underrepresentation of euro-denominated stablecoins in the global digital asset landscape, where U.S. dollar tokens like USDT and USDC command over 300 billion in market capitalization. Euro stablecoins, in contrast, total around 670 million in supply, with Circle’s EURC leading at approximately 330 million and Société Générale’s EURCV at 62 million as of recent data. Qivalis plans to issue its token fully backed by fiat reserves, requiring an Electronic Money Institution license from the Dutch central bank to ensure regulatory adherence. This structure will allow for programmable payments, enabling features like automated settlements for tokenized securities and cryptocurrency trades. Experts note that such a development could foster greater adoption of the euro in blockchain ecosystems, potentially increasing liquidity and efficiency in EU financial markets. The consortium’s CEO, Jan-Oliver Sell, formerly an executive at Coinbase Germany, brings deep expertise in digital assets to guide this effort toward seamless integration with existing banking services.
Frequently Asked Questions
What banks are involved in the Qivalis euro stablecoin project?
The Qivalis consortium includes ten prominent European lenders: BNP Paribas, ING, UniCredit, CaixaBank, Danske Bank, KBC, Banca Sella, SEB, DekaBank, and Raiffeisen Bank International. This multi-bank alliance is forming a regulated pathway for issuing a euro stablecoin, emphasizing compliance with MiCA to support secure digital finance applications across the region.
Why is the Qivalis stablecoin targeting on-chain payments for the EU?
The Qivalis euro stablecoin is designed for on-chain payments to meet the growing demand for 24/7 cross-border transactions in the European Union, where traditional systems often face delays and limitations. Fully operating on blockchain networks, it will offer near-instant settlements and programmable functions, making it ideal for corporate payments, tokenized assets, and crypto integrations while adhering to MiCA standards for stability and transparency.
Key Takeaways
- Collaborative Innovation: Qivalis unites ten major banks to pioneer a MiCA-regulated euro stablecoin, set for a 2026 launch, enhancing Europe’s digital payment ecosystem.
- Market Opportunity: With euro stablecoins lagging behind dollar equivalents, Qivalis aims to boost supply and adoption, potentially growing the sector from its current 670 million valuation.
- Regulatory Focus: Securing an EMI license ensures fiat backing and compliance, positioning the token for broad use in on-chain settlements and programmable finance.
Conclusion
The Qivalis regulated euro stablecoin initiative marks a significant step for European banks in embracing blockchain technology under the MiCA framework, addressing key gaps in on-chain payments and euro digital assets. By fostering collaboration among institutions like BNP Paribas and ING, this project promises to deliver efficient, secure solutions for cross-border finance. As the 2026 rollout approaches, stakeholders should monitor these developments closely, preparing to leverage the opportunities in an evolving EU crypto landscape.
European financial institutions are advancing toward a unified digital future with the Qivalis project, which coordinates efforts among leading banks to introduce a stablecoin pegged to the euro. This endeavor, announced through statements from participating banks, underscores a strategic response to the need for regulated digital currencies in the region. The involvement of BNP Paribas alongside other giants like ING and UniCredit highlights the scale of this multi-bank structure, aimed at creating a Dutch entity dedicated to token development.
Headquartered in Amsterdam, Qivalis is pursuing the necessary Electronic Money Institution license from the Dutch central bank, a critical step for maintaining fiat reserves as mandated by MiCA. This regulatory alignment ensures the stablecoin’s credibility and usability in professional settings. The token’s design emphasizes full blockchain integration, bypassing conventional payment rails to offer faster, more reliable transactions for businesses and institutions.
Jan-Oliver Sell’s appointment as CEO brings seasoned leadership to the initiative, drawing from his background in cryptocurrency operations at Coinbase Germany. Under his guidance, Qivalis is building robust management and oversight to satisfy EU standards, paving the way for practical applications in digital finance.
Targeting the EU’s on-chain payment infrastructure, the consortium seeks to fill a notable void where dollar-dominated stablecoins overshadow euro options. The project’s focus on 24/7 settlements and programmable features could transform how payments are processed, reducing frictions in areas like securities tokenization and crypto dealings. Member banks plan to provide custody and wallet services, further embedding the stablecoin into everyday banking operations.
Recent market analyses, as reported by financial data providers, illustrate the disparity: while the overall stablecoin sector exceeds 300 billion, euro variants remain niche. Qivalis’s entry could catalyze growth, offering a compliant alternative that aligns with Europe’s emphasis on financial sovereignty and innovation.
With licensing expected to conclude ahead of the mid-2026 debut, Qivalis positions itself as a cornerstone for euro-based digital settlements. This development not only strengthens the bloc’s crypto ecosystem but also signals broader acceptance of stablecoins in regulated environments. Financial experts, citing the project’s structure, anticipate it will encourage further investments in blockchain-compatible tools across the continent.
The initiative’s emphasis on transparency and reserve backing aligns with global best practices, drawing parallels to established stablecoins while tailoring to EU needs. As implementation progresses, Qivalis could set a precedent for multi-institutional crypto projects, promoting interoperability and efficiency in international trade and finance.
Overall, this coordinated effort reflects Europe’s proactive stance on digital currencies, balancing innovation with stringent oversight to build trust among users and regulators alike.
Source: https://en.coinotag.com/european-banks-plan-regulated-euro-stablecoin-by-2026-to-bolster-on-chain-payments
