Stablecoin News: BNP Paribas Joins EU Bank Stablecoin Venture Qivalis
BNP Paribas is joining nine other European banks in the Qivalis venture to launch a euro stablecoin in the second half of 2026.Summary
BNP Paribas, France's largest bank by assets, has joined an Amsterdam-based joint venture named Qivalis, which is backed by nine other European banks including ING, UniCredit, and CaixaBank, to issue a euro stablecoin. The group has applied for an electronic money license from the Dutch Central Bank and plans to roll out the stablecoin in the second half of 2026. Qivalis is led by CEO Jan-Oliver Sell, a former executive at Coinbase Germany, and aims to build blockchain-native payment infrastructure compliant with the EU's MiCA regulations, specifically targeting corporate clients.
The venture seeks to leverage the banks' financial footprint to offer an alternative to dominant dollar-pegged stablecoins like USDT and USDC, addressing the lagging adoption of euro-denominated tokens. Qivalis is currently developing its governance framework and anticipates receiving regulatory approval before its planned 2026 debut.
(Source：CoinDesk)