Consortium Qivalis, including ING and UniCredit, plans euro-pegged stablecoin launch by mid-2026, expanding with BBVA. Aligns with global regulatory standa
Qivalis Consortium Advances Plans for Euro-Pegged Stablecoin
Qivalis, a consortium comprising major European banks including ING and UniCredit, is in advanced discussions with crypto exchanges and liquidity firms to launch its euro-pegged stablecoin. The project aims for the second half of 2026.
Consortium Composition and Expansion
The group initially comprised nine members when it was announced in September 2025, including ING, UniCredit, CaixaBank, Danske Bank, Raiffeisen Bank International, KBC, SEB, DekaBank, and Banca Sella. In early February, Spanish bank BBVA joined as the 12th member.
Strategic Partnerships and Regulatory Compliance
Qivalis CEO Jan Sell has stated that the consortium is exploring partnerships with both European and international platforms, aligning with its global vision to provide a regulated domestic alternative to US dollar-denominated stablecoins. The project aims to facilitate real-time cross-border business-to-business payments and support global trade.
Details of the Stablecoin
During a presentation, Qivalis CFO Floris Lugt outlined that the stablecoin's reserves would be backed 1:1 with at least 40% in bank deposits. The remaining portion is expected to consist of high-quality, short-term sovereign bonds from multiple euro-area countries, ensuring diversification.
Regulatory and Market Readiness
Qivalis intends to collaborate with partners adhering to European Union regulatory frameworks, including the Markets in Crypto-Assets Regulation (MiCA). Spanish MiCA-licensed exchange Bit2Me is among those currently involved in discussions with one of Qivalis' banks.
Conclusion: Future Outlook
The launch of this stablecoin could significantly impact cross-border payments and trade within the eurozone. By adhering to strict regulatory standards, Qivalis aims to build a robust platform that addresses existing market needs while maintaining transparency and security for users.
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