A consortium of 12 European banks plans to launch a euro-pegged stablecoin in the second half of 2026

Odaily News A consortium of 12 European banks, Qivalis, is advancing a plan for a euro-pegged stablecoin, with the goal of commercial launch in the second half of 2026. Consortium members include CaixaBank, BNP Paribas, ING, UniCredit, BBVA, Danske Bank, DZ Bank, SEB, KBC, Raiffeisen Bank International, DekaBank, and Banca Sella.

The token will be pegged 1:1 to the euro, with at least 40% of its reserves held in bank deposits and the remainder invested in high-rated short-term eurozone government bonds. Qivalis CEO Jan Sell stated that the project aims to provide the EU with a regulated domestic alternative to counter the dominance of US dollar stablecoins and to be used in global scenarios such as cross-border business payments. The consortium is currently in discussions with cryptocurrency exchanges, market makers, and liquidity providers to ensure the token is tradable from its first day of issuance.