Key Takeaways:
Qivalis added 25 banks, reaching 37 institutions across 15 European countries.ING and BNP Paribas back euro stablecoins to counter $190B Tether dominance.Qivalis plans a euro-pegged stablecoin launch later in 2026 for onchain payments.The Qivalis consortium reported that 25 additional banks have joined the initiative, bringing total membership to 37 financial institutions spanning 15 countries. New participants include major lenders such as ABN Amro, Rabobank, Sabadell, Bankinter, Bank of Ireland, Handelsbanken, and Nordea.
The Amsterdam-based project, established last year, already counted ING, BNP Paribas, and BBVA among its members. The consortium plans to launch a euro-pegged digital currency later this year.
“The euro is Europe’s currency, and on-chain financial infrastructure should carry it,” Qivalis Chief Executive Officer Jan-Oliver Sell said in a statement. “It should be built by European institutions and governed by European rules.”
Euro Stablecoin Demand Remains LimitedQivalis aims to position European institutions at the center of that transition rather than relying on infrastructure controlled by foreign firms or crypto-native companies.
