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Crypto
Six major Swiss banks test Swiss franc stablecoin
Six major Swiss banks are testing a stablecoin pegged to the Swiss franc with Swiss Stablecoin AG, CoinDesk reported. UBS, PostFinance, Sygnum, Raiffeisen, Zurich Cantonal Bank and BCV set up a sandbox allowing banks and institutions to trial real transactions in a controlled environment through 2026. The project limits user numbers and volumes to manage risk and focuses on payment process testing and programmable money. Switzerland does not yet have a widely used regulated CHF stablecoin.
Crypto
European banks seek exchange ties ahead of 2026 stablecoin launch
Major European banks are preparing to launch a euro-linked stablecoin in 2026 and have begun negotiations with cryptocurrency exchanges and liquidity firms, Cointelegraph reported on March 2. The Qivalis consortium, which includes ING, UniCredit, CaixaBank and BBVA, is aiming for a launch in the second half of 2026. The project is led by Qivalis CEO Jan Sell and plans to back reserves with bank deposits and short-term euro zone government bonds.
Crypto
Spain\'s BBVA joins EU bank stablecoin project, challenges digital dollar
Spain\'s BBVA has joined the European bank stablecoin project Qivalis. Qivalis aims to launch a euro-based stablecoin to counter the dominance of digital dollar stablecoins. With BBVA\'s participation, 12 major EU banks including BNP Paribas, ING and UniCredit are involved. Euro-pegged coins account for $860 million of the $300 billion stablecoin market. Qivalis is seeking approval from the Dutch central bank as an e-money institution and targets a token launch in the second half of 2026.
