Qivalis in talks with crypto exchanges ahead of euro stablecoin launch

CoinDesk

by Olivier Acuna

March 2, 2026

AI-Generated Deep Dive Summary

Qivalis, a consortium of major EU banks including ING and BNP Paribas, is developing a euro-pegged stablecoin compliant with the EU's MiCA regulations, set to launch in late 2026. The initiative aims to establish a European alternative to US-dominant stablecoins, fostering financial independence for the EU by enabling blockchain-based payments using euros without relying on traditional or foreign systems. The consortium is engaging with crypto exchanges and liquidity providers to ensure high liquidity from day one, a critical factor for adoption. Qivalis CEO Jan Sell emphasized the importance of regulated platforms for this purpose. The stablecoin will be 1:1 backed, with at least 40% of reserves in bank deposits and the remainder in short-term EU sovereign bonds across multiple countries. This diversified approach enhances stability and trust, as funds are held by highly-rated institutions. Seeking authorization from the Dutch central bank under MiCA underscores their commitment to regulatory compliance. The design includes immediate redemption features, adding credibility and appeal. While Spanish exchange Bit2Me has confirmed discussions with one of Qivalis' banks, other platforms remain cautious about collaboration. This project matters as it challenges US dominance in the stablecoin market, offering a regulated European option for cross-border corporate payments. By reducing reliance on foreign systems, it enhances EU strategic autonomy and supports real-time, efficient transactions within the bloc. For crypto enthusiasts, this highlights Europe's push to establish its presence in digital finance, with potential benefits for businesses and consumers seeking reliable,

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Originally published on CoinDesk on 3/2/2026