The Qivalis Alliance, a consortium of 12 major European banks including CaixaBank, BNP Paribas, ING, UniCredit, and BBVA, is advancing its euro-stablecoin project with a target launch in the second half of 2026. The effort is in late-stage talks with crypto exchanges, market makers, and liquidity providers to establish distribution partnerships. The euro-pegged stablecoin will maintain a 1:1 peg to the euro. Reserves will include at least 40% in bank deposits, with the remainder primarily held in high-rated short-term eurozone sovereign bonds, enabling 24/7 redemption.
If realized, the project would support broader euro-denominated digital payments and liquidity across European markets. It would also test new arrangements for reserve management and cross-border settlement.
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