Group of EU banks pushes for a euro-pegged stablecoin by 2027
Ten EU banks, through the entity Qivalis, aim to launch a euro-pegged stablecoin compliant with MiCA regulations in the second half of 2026.Summary
A consortium of ten EU banks, including BNP Paribas, is working to launch a euro-pegged stablecoin under the Amsterdam-based entity Qivalis. The goal is to introduce the stablecoin, which will comply with the EU's Markets in Crypto-Assets (MiCA) framework, in the second half of 2026, pending regulatory approval from the Dutch Central Bank. Qivalis CEO Jan-Oliver Sell stated that a native euro stablecoin is crucial for monetary autonomy and creating new opportunities for European businesses and consumers in digital asset markets. This development occurs as US regulators finalize their own stablecoin framework. Meanwhile, the Dutch Central Bank Governor has expressed concerns about potential risks to monetary policy from growing stablecoin markets, although the European Central Bank noted risks were limited but warranted monitoring. This initiative follows Tether's decision to discontinue support for its euro-pegged coin, EURt, citing risks associated with MiCA regulations.
(Source：Cointelegraph)