Ten European Banks Launch Qivalis to Issue Euro Stablecoin by Second Half of 2026

Ten major European banks have formed Qivalis, a Dutch-based entity, to launch a regulated euro stablecoin in the second half of 2026. The consortium includes BNP Paribas, ING, UniCredit, and seven other lenders. Qivalis is seeking an Electronic Money Institution license from the Dutch central bank to issue a fully backed token under the EU's Markets in Crypto-Assets framework.