Alliance of 37 European Banks Advances with Stablecoin Issuance

Qivalis, backed by 37 banks from 15 European countries, has obtained authorization to operate as an electronic money institution in the Netherlands and is moving forward with the issuance of a euro-pegged stablecoin. The license was granted by De Nederlandsche Bank (DNB), which will supervise the company. Qivalis will be able to issue electronic money tokens denominated in euros (EMT), complying with the requirements of the MiCA regulation. The launch could occur in November 2026, initially on the Ethereum network, although the date is not confirmed. Founded in September 2025, Qivalis includes financial entities such as BBVA, CaixaBank, and Banco Sabadell, with Spain being the country with the highest representation. The currency will be distributed through banks, exchanges, and payment service providers, initially targeting institutional clients. The project aims to increase the euro's presence in the stablecoin market, where it currently represents around 0.2% of the market, in contrast to over 98% of digital currencies linked to the dollar. The competitiveness of the currency will depend on its integration into existing payment systems and the costs and liquidity it offers.

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