Spanish banking giant BBVA joins Qivalis consortium to issue European stablecoin
BBVA has joined the Qivalis consortium, which is developing a regulated, euro-pegged stablecoin for European institutions.Summary
Spanish banking giant BBVA has joined the Qivalis consortium, a bank-led group aiming to issue a shared, euro-pegged stablecoin compliant with MiCAR regulations by late 2026. The venture seeks to provide European institutions with a safe, efficient, and blockchain-compatible alternative to counter US dollar dominance and improve payment infrastructure. Qivalis, now comprising 12 major banks including BBVA, ING, and BNP Paribas, is awaiting authorization as an Electronic Money Institution from the Dutch Central Bank. BBVA brings significant experience in digital assets, having previously expanded its retail crypto offering and collaborated on blockchain projects with entities like SWIFT and the Bank for International Settlements.
(Source：Crypto Briefing)