Qivalis to launch euro stablecoin by 2026 backed by major European banks
Crypto Briefing
Qivalis, backed by ten major European banks, plans to launch a euro-pegged stablecoin by late 2026 to challenge US digital payment dominance.Summary
Qivalis, a new Amsterdam-based company formed by a consortium of ten major European banks including ING, UniCredit, and BNP Paribas, has announced its intention to launch a euro-pegged stablecoin by the latter half of 2026. This initiative is a strategic move by European financial institutions to bolster the euro's digital relevance and create an alternative to US dollar-dominated digital assets, thereby enhancing European financial sovereignty. Qivalis is currently seeking authorization as an Electronic Money Institution from the Dutch Central Bank to ensure legal issuance of the stablecoin compliant with forthcoming EU regulatory standards for electronic money and payment services.
(Source：Crypto Briefing)