European Banks Form Qivalis to Launch Euro Stablecoin by 2026

• European banks are working together to launch Qivalis, a euro-backed stablecoin by 2026, to boost Europe’s control over digital payments.
• BTC adoption meanwhile also grows alongside Qivalis, reflecting potential synergy with the new euro stablecoin.

Inline with our recent report that Europe has taken a leading role in cryptocurrency banking, we highlighted that 55 banks offer crypto custody, trading, and fiat conversions, surpassing Asia and North America. Currently, ten leading European banks have established Qivalis, an Amsterdam-based entity designed to issue a euro-linked stablecoin, according to Reuters.

European banks initiating Qivalis to secure European control over digital payments and reduce dependency on U.S. dollar-based stablecoins and American payment networks. The consortium aims to launch a euro-native token that supports strategic autonomy, regulatory alignment, and bank-grade settlement capabilities. Jan-Oliver Sell, CEO of Qivalis, stated on Reuters:

Based in Amsterdam, Qivalis will first integrate its stablecoin into crypto-trading venues, banking apps, and institutional payment platforms before expanding to consumer-facing services. Over time, the token could appear in retail banking tools, merchant payment systems, and fintech apps once regulatory approval and infrastructure scale are achieved.

Specifically, under Qivalis’ corporate structure, ING, UniCredit, and BNP Paribas anchor the consortium. The full group also includes Banca Sella, KBC, DekaBank, Danske Bank, SEB, CaixaBank, and Raiffeisen Bank International. Qivalis is already recruiting: management said the firm intends to staff roughly 45–50 people over the next 18–24 months, with around one third of those positions already filled.

BTC Gains Momentum Amid Qivalis Euro Stablecoin Launch

Qivalis represents the first large-scale euro stablecoin issued directly by Europe’s major banks, providing regulatory clarity, institutional backing, and supervised reserves that private issuers cannot match. The structure of it is designed for compliance, seamless settlement, and cross-border payment interoperability, positioning it as a credible alternative to U.S. dollar stablecoins.

The consortium will launch a fully euro-backed stablecoin functioning as a digital version of the euro. While the stablecoin will operate independently, it will circulate alongside major crypto assets like Bitcoin on exchanges and may be paired with BTC for trading and settlement purposes.

In addition, as we also highlighted recently in an updates, from Switzerland, where Bitcoin payments have been enabled nationwide, demonstrate that BTC is increasingly becoming the preferred digital asset for both businesses and consumers as crypto adoption expands.

Reflecting this growing adoption, Bitcoin (BTC) is currently trading at the price of $92,234.28, marking with an in crease of 6.68% increase over the past 24 hours and 4.92% in the past week. See BTC price chart below.