Crypto News Today: European Banks form Consortium to Launch a Regulated Euro Stablecoin by 2026
A coalition of ten major European banks has launched Qivalis, a new jointโventure aiming to issue a fully regulated euroโpegged stablecoin by the second half of 2026. The stablecoin will comply with the EUโs MiCA framework and aims to reduce Europeโs reliance on U.S. dollarโbased crypto tokens.
The banks involved include ING, UniCredit, BNP Paribas, plus others such as Banca Sella, KBC, CaixaBank, Danske Bank, DekaBank, SEB, and Raiffeisen Bank International.
The new consortium is headquartered in Amsterdam; Qivalis is working to obtain an EMI (Electronic Money Institution) licence from the Dutch Central Bank.
The planned stablecoin aims to support nearโinstant, low-cost, 24/7 euroโdenominated payments, cross-border transfers, programmable payments, and other digitalโasset settlements.
The creation of Qivalis โ backed by Europeโs banking giants โ marks a strategic move toward European monetary autonomy in the digital economy. By building a regulated euro stablecoin under MiCA, Europe could challenge the dominance of dollarโbased tokens and provide a stable, bankโsupervised digital euro alternative.
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