BBVA is the latest entrant to the European bank consortium gearing up to launch a euro-pegged stablecoin in the second half of 2026.
BBVA Has Joined Banking Consortium Behind QivalisIn the months that followed the consortium’s inauguration, two more banks, BNP Paribas and DZ BANK, joined the fray. Now, it seems the group has gained a twelfth member with BBVA also signing up. Alicia Pertusa, head of partnerships & innovation at BBVA CIB, said:
Collaboration between banks is key to create common standards that support the evolution of the future banking model and deliver financial innovation to our clients in a consistent and practical way.
BBVA, standing for Banco Bilbao Vizcaya Argentaria, is a Spanish multinational financial services institution that mainly operates in Europe and South America. It’s Spain’s second-largest bank in terms of assets.
Previously, the bank has had involvement in projects related to digital assets, including a collaboration with SWIFT to develop a blockchain platform to serve as a shared digital registry for banks globally. With its entry into the consortium, BBVA is now also backing the euro stablecoin.
Jan-Oliver Sell, Qivalis CEO, noted:
Having BBVA join the banking consortium marks an important step forward. With their addition, our network now brings together twelve European banks committed to building a secure, MiCAR‑compliant euro stablecoin framework.
Currently, Qivalis has slated the commercial launch of the euro-pegged stablecoin for the second half of this year, after the regulatory and technical hurdles are overcome.
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