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European Banking Consortium Qivalis Prepares Euro Stablecoin Launch for 2026
European Banking Consortium Qivalis Prepares Euro Stablecoin Launch for 2026
BTCCSquare news:
A coalition of ten major European banks, now including BNP Paribas, has established Qivalis in Amsterdam to develop a euro-pegged stablecoin slated for H2 2026. The initiative challenges the current dollar-dominated stablecoin market where USDT and USDC control 85% share.
The consortium originally comprised ING, Banca Sella, KBC, and six others before BNP Paribas joined. With €2.8 trillion in assets, BNP's participation as a globally systemic bank lends critical weight to the project. The euro stablecoin aims to provide a viable alternative to dollar-denominated crypto assets.
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