Major European banks are preparing to launch a euro-pegged stablecoin in 2026 and have entered talks with cryptocurrency exchanges and liquidity firms, Cointelegraph reported on March 2.
Qivalis is a consortium involving large European banks including ING, UniCredit, CaixaBank and BBVA, and is targeting a launch of a euro stablecoin in the second half of 2026. The negotiations are part of a strategy to strengthen distribution of the stablecoin by working with crypto exchanges and liquidity providers.
The project is led by Jan Sell (얀 셀), Qivalis CEO and former head of Coinbase Germany. It aims to comply with European regulations while serving as an alternative to U.S. dollar-based stablecoins.
Spanish cryptocurrency exchange Bit2Me is in talks with the Qivalis consortium, and market makers and liquidity providers are also likely to take part, Cointelegraph said.
Floris Rugt (플로리스 루그트), Qivalis CFO, said the stablecoin reserves would consist of at least 40 percent bank deposits, with the remainder in short-term euro zone government bonds. The plan is to reduce concentration risk in any specific country and offer a stablecoin that can be redeemed 24 hours a day.
Chi-gyu Hwang
delight@d-today.co.kr