Qivalis adds 25 banks, targets euro stablecoin H2 2026

Qivalis added 25 banks across 15 countries, bringing membership to 37, the Amsterdam-based banking consortium announced. The group plans to launch a regulated euro stablecoin in the second half of 2026.

New members include ABN AMRO, Rabobank, Nordea and Intesa Sanpaolo. Spain accounted for five entrants: ABANCA, Banco Sabadell, Bankinter, Cecabank and Kutxabank. Two banks joined from Italy, and two each from France, Sweden, Greece, the Netherlands, Finland and Ireland.

The consortium said the expanded membership supports efforts to create a unified, regulated infrastructure for a euro-denominated stablecoin under the European Union’s Markets in Crypto-Assets (MiCA) framework. Qivalis has been engaging with trading venues ahead of the planned rollout.

In March, Qivalis selected digital-asset custody provider Fireblocks to supply tokenization technology, wallet infrastructure, custody services and compliance tools. The consortium described the agreement as part of systems and compliance preparations for issuance and custody.

U.S. dollar-backed stablecoins account for the vast majority of current stablecoin supply. Some European markets are showing early retail adoption of euro-denominated stablecoins, with Spain among the more active national markets.

Howard Davies, chairman of Qivalis’ supervisory board, described the aim as embedding European principles of data protection, financial stability and regulatory rigour into the new digital currency infrastructure. Jan Sell, Qivalis chief executive, wrote: “The euro is Europe’s currency, and on-chain financial infrastructure should carry it – built by European institutions and governed by European rules.”

Qivalis says the project is banking-led, with governance and operational design intended to meet European regulatory standards. The consortium plans further outreach to exchanges and market participants as it prepares for the second-half 2026 target.