The top ten banks in Europe have formed an alliance, planning to launch a euro stablecoin in 2026, which may reshape the stablecoin market landscape.

Recently, a significant development has emerged in the European financial industry: ten major banks in Europe, including the Netherlands' ING Group, France's BNP Paribas, and Germany's Dekabank, have jointly established a joint venture named Qivalis, aiming to launch a fully compliant euro stablecoin in the second half of 2026. This move is seen as a direct challenge by mainstream European financial institutions to the dollar-dominated stablecoin market, particularly to the status of USDT (Tether).

Brothers, the euro stablecoin is coming, charge ahead $BNB