Ten major european banks collaborate to develop regulated digital euro payment solution through newly established Qivalis entity.
BNP Paribas Joins European Bank Consortium for Euro-Backed Stablecoin Launch
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BNP Paribas has joined a consortium of ten European banks to launch a euro-backed stablecoin through Qivalis, a dedicated entity established in the Netherlands. The consortium has submitted an application for an electronic money license with the Dutch Central Bank, aiming to develop innovative and secure digital payment solutions compliant with Markets in Crypto-Assets Regulation (MiCAR).
The initiative represents a strategic move to create a European alternative to dollar-backed stablecoins, supporting the region’s payment ecosystem autonomy. Qivalis plans to launch the euro-backed stablecoin in the second half of 2026, with the project focusing on blockchain-based payment solutions that meet regulatory requirements and address evolving client needs in digital transactions.
Read More: BNP Paribas Announces New Mini-Bond Blockchain Platform
🧭 FAQs
• When will the euro-backed stablecoin launch? Planned for the second half of 2026.
• Where is the new entity located? Amsterdam, Netherlands.
• What regulatory framework will the stablecoin follow? Markets in Crypto-Assets Regulation (MiCAR).
• Which banks are part of the consortium? Ten European banks including BNP Paribas, Banca Sella, Caixa Bank, Danske Bank, Deka Bank, ING, KBC, Raiffeisen Bank International, SEB, and Uni Credit.
