- European banks join forces for euro-pegged stablecoin.
- Qivalis leads with financial innovation initiative.
- Consortium seeks e-money licensing in the Netherlands.
This initiative by Qivalis, backed by key European banks, aims to enhance financial autonomy in Europe, challenging US dollar stablecoins and providing a regulated, efficient payment solution.
In September 2025, nine major European banks formed a consortium to launch a euro-pegged stablecoin. This initiative involves creating a new company named Qivalis in Amsterdam, which seeks regulatory approval from Dutch authorities.
Led by Jan-Oliver Sell and Sir Howard Davies, Qivalis aims to embed European values in digital commerce. The consortium targets a launch by 2026 and includes BNP Paribas, joining later in 2025.
The stablecoin aims to provide low-cost, near-instant cross-border payments and facilitate cryptocurrency settlements. This positions it as a European alternative to existing US dollar stablecoins.
The initiative intends to preserve European economic independence and improve transactional efficiencies in the financial sector. By focusing on regulatory compliance, the consortium emphasizes financial stability and data protection.
The stablecoin does not affect current assets as the launch is pending. Community interactions and reactions have been minimal so far, with a focus on regulatory processes.
No historical precedents exist for such a bank-led stablecoin effort, making this a novel strategy. Qivalis’s actions underscore European ambition in the digital payments landscape.
“The launch of a euro-denominated stablecoin, backed by a consortium of European Banks, represents a watershed moment for European digital commerce and financial innovation. A native Euro stablecoin isn’t just about convenience – it’s about monetary autonomy in the digital age.” – Jan-Oliver Sell, CEO, Qivalis
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