The European banking sector has taken a significant step forward in the field of crypto assets. Nine leading European banks have come together to officially establish the Amsterdam-based stablecoin issuance company Qivalis.
Europe’s Major Banks Launch Joint Stablecoin Initiative: Qivalis to Launch Euro Stablecoin in 2026
Qivalis plans to launch one of the first euro stablecoins fully compliant with the European Union’s MiCA (Markets in Crypto-Assets) regulations in the second half of 2026.
Banks participating in the initiative include ING, Banca Sella and UniCredit from Italy, KBC from Belgium, Danske Bank from Denmark, DekaBank from Germany, SEB from Sweden, CaixaBank from Spain and Raiffeisen Bank International from Austria.
The banks emphasize that this collaboration will offer a genuine European alternative to the market dominated by US-based stablecoins.
According to the joint statement, the euro stablecoin to be developed will provide low-cost and near-instant transactions, 24-hour uninterrupted international payment facilities, programmable payment options, strengthened supply chain management, and higher efficiency in digital asset transfers.
European banks say the Qivalis initiative will enhance the continent’s financial sovereignty and strengthen “strategic autonomy” in payments infrastructure. This new stablecoin, issued in accordance with MiCA, is poised to launch in the second half of 2026, ushering in a new era for the European crypto ecosystem.
*This is not investment advice.