365Crypto
A Euro Stablecoin Takes Shape
A group of major European banks is moving closer to launching a euro stablecoin.
The consortium, known as Qivalis, is targeting the second half of 2026.
Members include large names such as ING, UniCredit, and BBVA, which recently joined as the twelfth participant in the project.
The group is now in talks with crypto exchanges, market makers, and liquidity providers to prepare distribution before the official launch.
Building a Regulated Alternative
The goal is simple.
Create a euro-pegged stablecoin that meets European Union rules.
Qivalis wants to offer a regulated alternative to dollar-based stablecoins that currently dominate global crypto markets.
Executives say the project supports real-time cross-border payments and business settlements across global trade networks.
Stablecoin: a digital token designed to maintain a fixed value, often linked to a fiat currency like the euro or dollar.
Exchange Partnerships Under Discussion
The consortium is speaking with both European and international platforms.
Only partners aligned with EU regulations, including the Markets in Crypto-Assets framework, will be considered.
Some MiCA-licensed exchanges in Spain have already held early discussions with member banks involved in the initiative.
Shareholder banks will also distribute the token directly to clients once it launches.
MiCA: the European Union’s regulatory framework for crypto-assets.
Reserve Structure and Redemptions
The euro stablecoin will be backed one-to-one with reserves.
At least forty percent will sit in bank deposits within the eurozone.
The remaining share will be invested in short-term, high-quality sovereign bonds to reduce concentration risk in any single country.
Token holders are expected to have access to round-the-clock redemption, meaning they can exchange tokens for euros at any time.
Redemption: the process of exchanging a stablecoin for its underlying fiat currency.
