A consortium of ten leading European banks has formed Qivalis to develop and launch a euro-backed stablecoin by mid-2026. With heavy reliance on dollar-denominated stablecoins posing regulatory and monetary risks, this initiative aims to strengthen Europe's financial autonomy and digital payment infrastructure. Supported by seasoned executives and aligned with MiCA regulations, the euro stablecoin will accelerate cross-border payments, programmable transactions, and compete with dominant U.S. dollar stablecoins. Alongside this private effort, the ECB continues its digital euro project as Europe seeks to modernize payment systems and reduce dependencies on foreign currencies and payment platforms.
Continue to read European Banking Giants Collaborate to Launch Euro-Pegged Stablecoin by 2026
A consortium of ten leading European banks has formed Qivalis to develop and launch a euro-backed stablecoin by mid-2026. With heavy reliance on dollar-denominated stablecoins posing regulatory and monetary risks, this initiative aims to strengthen Europe's financial autonomy and digital payment infrastructure. Supported by seasoned executives and aligned with MiCA regulations, the euro stablecoin will accelerate cross-border payments, programmable transactions, and compete with dominant U.S. dollar stablecoins. Alongside this private effort, the ECB continues its digital euro project as Europe seeks to modernize payment systems and reduce dependencies on foreign currencies and payment platforms.
Continue to read European Banking Giants Collaborate to Launch Euro-Pegged Stablecoin by 2026
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