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European Banks Unite to Launch Regulated Euro Stablecoin through Qivalis by 2026

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Business Honor European Banks Eye Regulated Euro Stablecoin by 2026

Business Honor
10 December, 2025

Qivalis aims to strengthen Europe’s digital monetary autonomy with a fully regulated euro stablecoin.

A group of ten large European banks has initiated a project to establish a licensed euro-backed stablecoin by 2026, aiming to reduce Europe's dependence on US dollar-based tokens. The name for this newly established body is Qivalis, which has its base in the Netherlands and plans to roll out the euro-pegged stablecoin in the second half of 2026. Among the top banks involved are ING, UniCredit, BNP Paribas, and CaixaBank.

Qivalis is in the process of obtaining an Electronic Money Institution license from the Dutch central bank and intends to launch a MiCA-compliant stablecoin. The initiative has been designed to ensure full regulatory oversight under the EU framework, thus providing a secure and regulated alternative to the dollar-dominated stablecoin market.The main objective of Qivalis is to enhance the monetary autonomy of Europe in digital markets. Today, the supply of dollar-pegged stablecoins makes up more than 99% of the total capitalization of stablecoins in the world. This Qivalis euro stablecoin will provide for 24/7 cross-border payments, on-chain settlements, and programmable transactions for financial institutions, payment providers, and corporations.

Qivalis does not intend to replace the existing banking infrastructure but to integrate well with the current payment systems. It also plans to avoid fragmentation by offering a shared platform that multiple banks can use. With regulators continuing to consider the potential risks of large-scale stablecoin use, Qivalis is a regulated, European-based solution that keeps its reserves within the eurozone driver and part of the wider EU strategy of modernizing digital payments. This dual approach is further complemented by ongoing work at the European Central Bank on a digital euro.