European Banks Launch Qivalis to Issue Euro-Pegged Stablecoin

TheNewsCryptoPublished on 2026-01-24Last updated on 2026-01-24

The association of 10 European banks has made a firm known as Qivalis to roll out a euro-pegged stablecoin, as per an announcement from the group. This step focuses on offering an alternative to U.S. dollar-denominated digital payment systems.

The participating banks comprise BNP Paribas, ING, UniCredit, Banca Sella, KBC, DekaBank, Danske Bank, SEB, Caixabank and Raiffeisen Bank International. BNP Paribas joined forces with the consortium after the original announcement, as per the group.

It is anticipated that the token will roll out in the second half of this year, pending regulatory approval and licensing, as per the consortium. An ex-CEO of Coinbase Germany, Jan-Oliver Sell, will act as chief executive of Qivalis, and Howard Davis, ex-chair of NatWest, got appointed as chair.

The Plans For Broadening

The company has planned to hire 45 to 50 employees in the upcoming two years, having 1/3rd of the positions filled so far, as per the company. In the beginning, the stablecoin will aim for cryptocurrency trading, providing near-instant, low-cost payments and settlements, and will have plans to widen use cases later, as per the consortium.

This step is followed by a quick surge, mainly in U.S. dollar-backed tokens like Tether. Euro-pegged alternatives are not unlimited in the market. Societe Generale’s SG-FORGE has 64 million euros in circulation in recent times, as per the available data.

Regulators such as the European Central Bank have elevated concerns that private stablecoins could redirect funds from regulated banking institutions and impact monetary policy.

Qivalis is looking for an Electronic Money Institution licence from the Dutch central bank and has worked with the ECB, which further supported a European-led solution to ensure strategic autonomy in payments, as per the sources close to the discussions.

Another group of banks in Europe and the US is also looking for stablecoin issuance, showing surged institutional interest in digital currencies, as per the industry reports.

Highlighted Crypto News Today:

Ripple CEO Brad Garlinghouse Expects Crypto Market to Reach New High in 2026

TagsEuroEuropean central bankStablecoin

Related Questions

QWhat is the name of the new firm established by the 10 European banks to issue a euro-pegged stablecoin?

AQivalis

QWhich major French bank joined the consortium after the original announcement?

ABNP Paribas

QWho has been appointed as the chief executive of Qivalis?

AJan-Oliver Sell, the ex-CEO of Coinbase Germany

QWhat type of license is Qivalis seeking from the Dutch central bank?

AAn Electronic Money Institution licence

QWhat is one of the primary initial use cases planned for the new stablecoin?

ACryptocurrency trading, providing near-instant, low-cost payments and settlements

Related Reads

LATEST NEWS: Donald Trump makes a sharp statement regarding Iran! He has halted attacks

U.S. President Donald Trump announced he called off planned military strikes against Iran after Saudi Arabia, the UAE, Qatar, and Iran itself requested a delay. Trump stated the planned operation would have been large-scale and powerful but was suspended to allow time for diplomatic negotiations. He added that regional allies believe an agreement is near, with initial talks focused on security and reopening the Strait of Hormuz. Negotiations on Iran's nuclear program would follow once that is settled. The Strait of Hormuz is a vital global chokepoint for oil and gas shipments, and conflict there could significantly impact energy prices and world trade. Trump further announced that new talks with Iran will begin tomorrow. Separately, Trump commented on events involving the Japanese yen, stating the U.S. intervened in the market due to good relations with Japan, asserting Washington's consistent support for Tokyo and mutual economic benefits from the relevant rules. *This is not an investment recommendation.

cryptonews.ru1h ago

LATEST NEWS: Donald Trump makes a sharp statement regarding Iran! He has halted attacks

cryptonews.ru1h ago

Bank of Italy Finds No Systemic Advantages of Stablecoins in Transfers

A study by the Bank of Italy found that stablecoins do not offer a consistent advantage in cost or speed for cross-border money transfers. The research compared sending 200 USDC in 10 bilateral corridors (Italy to Brazil, Argentina, Japan, UAE, and South Africa) against standard money transfer services. While the final cost of stablecoin transfers ranged from 0.3% to nearly 9%, and were often cheaper than the global average cost of 6.65%, they only outperformed services like Wise in three out of seven comparable corridors. Key costs and delays were attributed to fees for converting to and from fiat currency and the quality of local payment infrastructure, not blockchain fees. Transfer times varied from under 20 minutes in corridors with instant payment systems to one or two business days where such infrastructure was lacking. The authors concluded that stablecoins' benefits would be more significant if they could be spent directly without conversion and noted that overly restrictive regulations complicate retail use without eliminating demand.

cryptonews.ru2h ago

Bank of Italy Finds No Systemic Advantages of Stablecoins in Transfers

cryptonews.ru2h ago

Bitcoin Chart Pattern 'Head and Shoulders' Promises a Rise to $67,200

Bitcoin price action is forming a potential bullish reversal pattern. Currently trading around $63,200, BTC is shaping the right shoulder of an inverse head-and-shoulders formation. Analysts note this pattern is the primary reason for short-term bullish optimism, targeting a key breakout toward $67,200. However, market dynamics show a rotation of liquidity into Ethereum. The ETH/BTC pair has already broken upward, with ETH establishing an uptrend and targeting 0.0312. Against the US dollar, ETH is testing support near $1,875, with a path to $2,163 if it holds. This relative strength in ETH signals overall market positivity but drains volume from Bitcoin. The near-term outlook for BTC hinges on a decisive breakout above the pattern's neckline. Failure to do so could see bears push prices toward support levels at $60,000 and $58,000.

cryptonews.ru2h ago

Bitcoin Chart Pattern 'Head and Shoulders' Promises a Rise to $67,200

cryptonews.ru2h ago

Bitcoin Boom in Full Swing: Saylor's Latest Statement Fuels Buying Speculation

MicroStrategy's Executive Chairman Michael Saylor has fueled speculation about a new Bitcoin purchase by posting "Bitcoin Drive engaged" on August 2, accompanied by the company's customary purchase tracker. This aligns with his pattern of hinting at treasury changes ahead of weekly reports. The accompanying report showed MicroStrategy's Bitcoin holdings at 843,775 BTC, with an average cost of $75,653 per coin and an unrealized loss of -$10.58B. A similar signal preceded the company's July 27 announcement, strengthening expectations for a treasury update on Monday. However, MicroStrategy's real-time ledger reflects two recent Bitcoin sales totaling 3,588 BTC, reducing holdings from 847,363 BTC to the current 843,775 BTC. The company stated these sales funded preferred stock dividends and replenished its U.S. dollar reserve. Recent reports indicate the company made no Bitcoin purchases the week ending July 26 while increasing its dollar reserve to approximately $3.75B. The company faces financial headwinds after reporting an $8.33B operating loss for Q2 2026, including an $8.32B unrealized loss on its digital assets. Management may sell up to $1.25B more in Bitcoin to meet cash obligations. The expected Monday update will reveal if the "Bitcoin Drive" signal marks a return to accumulation as MicroStrategy balances its massive Bitcoin stash against growing cash commitments.

cryptonews.ru2h ago

Bitcoin Boom in Full Swing: Saylor's Latest Statement Fuels Buying Speculation

cryptonews.ru2h ago

AI Company Stocks Trading Like 'Memecoins' as Bitcoin Barely Moves — Weekly Review

Weekly Review Summary: AI stocks traded erratically like memecoins this week, while Bitcoin remained relatively flat around $64,000. Major market volatility stemmed from a forced liquidation by the "Situational Awareness" fund, contributing to a sharp sell-off in chip and AI stocks, particularly impacting Asian markets like South Korea's KOSPI. The Fed's signals and broader macro concerns added to the uncertainty. In crypto, the news was largely overshadowed by traditional finance but remained negative. Several crypto firms announced closures (BitMart) or bankruptcies (Storj Labs), and layoffs continued across the industry (Coinbase, Uphold). MicroStrategy notably shifted its strategy, using proceeds to buy back its own stock instead of purchasing more Bitcoin, drawing criticism. DeFi saw success stories like Trade.xyz on Hyperliquid, but also potential risks from insider trading and questions about platform dependence (e.g., Pump.fun on Solana). The intersection of AI and crypto gained attention with renewed hype around projects like Bittensor ($TAO). A critical security warning was reiterated for Coldcard wallet users regarding a potential private key vulnerability, emphasizing the high responsibility of self-custody. The overall tone cautioned against panic but urged preparedness amid a challenging market.

cryptonews.ru2h ago

AI Company Stocks Trading Like 'Memecoins' as Bitcoin Barely Moves — Weekly Review

cryptonews.ru2h ago

Trading

Spot
活动图片