Qivalis Consortium Targets H2 2026 for Launch
A consortium of 12 European financial institutions, named Qivalis, is moving forward with plans to introduce a euro-pegged stablecoin in the second half of 2026. The group, which includes banking giants like ING, UniCredit, and the recently added BBVA, is actively engaging with crypto exchanges, market makers, and liquidity providers to establish distribution channels. This initiative represents a significant step by traditional finance to create a regulated, domestic digital currency for the Eurozone.
According to Qivalis CEO Jan Sell, the project's goal is to offer a “regulated, domestic alternative to US dollar-denominated stablecoins.” The consortium is reportedly in discussions with both European and international platforms, including the MiCA-licensed Spanish exchange Bit2Me, to support its global vision for use cases like real-time, cross-border business payments.
Stablecoin to Hold 40% Reserves in Bank Deposits
The proposed euro stablecoin is being designed for stability and regulatory compliance under the European Union's Markets in Crypto-Assets (MiCA) framework. Qivalis CFO Floris Lugt confirmed the asset will be backed 1:1 by reserves, with a structure designed to mitigate risk. At least 40% of the reserves will be held in bank deposits, providing a strong liquidity foundation.
The remaining portion of the reserves will be invested in high-quality, short-term sovereign bonds from a variety of euro-area countries. This strategy is intended to prevent over-concentration in any single nation's debt. The consortium also plans to support 24/7 redemptions for all token holders, ensuring constant access to liquidity.
