Nikolas Sargeant
A consortium of major European banks operating under the name Qivalis is moving closer to launching a euro-pegged stablecoin, with distribution talks now underway with crypto exchanges and liquidity providers. The group is targeting the second half of 2026 for launch and aims to position the token as a regulated European alternative to dollar-backed stablecoins.
The consortium includes prominent institutions such as ING, UniCredit and BBVA, alongside several other European banking players that joined when the initiative was first unveiled in September 2025. Shareholder banks will be able to distribute the stablecoin directly, while partnerships with crypto trading platforms are expected to expand liquidity and global accessibility. Discussions are reportedly taking place with both European and international exchanges, reflecting the project’s cross-border ambitions.
Qivalis leadership has emphasized compliance with European Union rules, particularly the Markets in Crypto-Assets (MiCA) framework. The consortium is prioritizing partnerships with platforms that meet these regulatory standards, reinforcing its focus on transparency and oversight. The stablecoin is designed to support real-time cross-border business payments and global trade settlement.
From a structural standpoint, the token’s reserves are expected to be backed 1:1. At least 40% will be held in bank deposits, with the remaining reserves allocated to short-term, high-quality euro-area sovereign bonds to reduce concentration risk. The stablecoin will also offer 24/7 redemption, aiming to combine traditional banking safeguards with the efficiency of blockchain-based payments.
