Qivalis advances euro stablecoin as it seeks DNB EMI licence

Qivalis is a bank-led euro stablecoin launching in H2 2026

Qivalis, an alliance of 12 european banks, is preparing to launch a euro‑pegged token in the second half of 2026, as reported by The Block. The Qivalis euro stablecoin is positioned as an institutional-grade instrument for on-chain payments and settlements.

Early use cases are expected to include corporate payments and cross‑border blockchain settlements under a regulated framework, according to CoinCentral. The consortium has formed a dedicated issuer entity to operate within Europe’s regulatory perimeter.

Why it matters: regulated, MiCA-compliant euro payments and settlements

A MiCA‑compliant euro stablecoin could reduce reliance on dollar‑denominated tokens in European markets and support euro liquidity on public and private chains. The European Central Bank has been described as supportive of Europe’s payment autonomy aims while warning on stablecoin risks, per Coin360.

Qivalis is in advanced discussions with major crypto exchanges, market makers and liquidity providers to support distribution and liquidity at launch, according to CoinDesk. No exchange partners have been named, and any listings remain subject to agreements and regulatory constraints.

MiCA, DNB licence, reserves and oversight

EMI licence application with DNB and ECB policy context

Qivalis is pursuing an Electronic Money Institution authorisation with De Nederlandsche Bank under the EU’s Markets in Crypto‑Assets regime, according to Cointeeth. Any approval would place issuance and redemption under Dutch supervision, with EU‑level policy input, and remains pending.

Supporters argue a bank‑issued stablecoin can complement existing payment rails and digital asset settlement without replacing public money. “Euro‑based stablecoins could become the bloc’s payment rails,” said Howard Davies, chair of a supervisory board, in a letter to the Financial Times.

Reserve model: 40% deposits, remainder high-quality bonds

Qivalis plans to hold at least 40% of reserves as bank deposits, with the balance invested in high‑quality, liquid bonds, according to Cinco Días (El País). The design targets a 1:1 peg, daily liquidity, and alignment with MiCA’s safeguarding and transparency principles.

FAQ about Qivalis euro stablecoin

When will the Qivalis euro stablecoin launch, and where will it be available (exchanges, wallets)?

Targeting H2 2026 in the EU; distribution via exchanges and compatible wallets is under discussion with market venues and will depend on regulatory approvals.

How will Qivalis maintain a 1:1 euro peg and how are reserves allocated between bank deposits and bonds?

The peg is designed to be fully backed: at least 40% in bank deposits, with the remainder in high‑quality, liquid bonds under a MiCA‑compliant reserve framework and oversight.