A group of ten major European banks, including ING, UniCredit, and BNP Paribas, has come together to create a consortium. Their goal is to launch a European euro stablecoin, boosting Europe’s presence in the fast-growing digital asset market.
The new company, called Qivalis, will be based in Amsterdam. Jan-Oliver Sell, a former executive from Coinbase Germany, will be the CEO. He will guide the development and distribution of this new digital currency.
The banks involved in this initiative, announced in September, are:
ING, UniCredit, Banca Sella, KBC, DekaBank, Danske Bank, SEB, Caixabank, Raiffeisen Bank International, and BNP Paribas.
Qivalis plans to launch its stablecoin in the market at the beginning of the second half of 2026. This will give Europe a unified digital currency framework that keeps up with changes in the US.
In the United States, top companies are also getting ready to issue dollar stablecoins. This follows a law signed by US President Donald Trump, which sets up a new regulatory framework for these digital tools.
