What is the new stablecoin venture involving BNP Paribas called?

The new stablecoin venture involving BNP Paribas is called Qivalis.

When is the Qivalis stablecoin expected to launch?

The Qivalis stablecoin is planned to roll out in the second half of 2026.

Which European banks are part of the Qivalis stablecoin initiative?

BNP Paribas, ING, UniCredit, and CaixaBank are among the ten European banks backing the Qivalis stablecoin initiative.

Home / Business and Economy / Banks Launch Euro Stablecoin for Digital Payments

Banks Launch Euro Stablecoin for Digital Payments

4 Dec

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Summary

Major European banks are collaborating on a new stablecoin venture.
The initiative aims to build compliant digital payment infrastructure in Europe.
The stablecoin is slated for a second-half 2026 rollout.

Banks Launch Euro Stablecoin for Digital Payments

France's largest bank, BNP Paribas, is now part of a significant European banking collaboration focused on issuing a stablecoin. The initiative, known as Qivalis and based in Amsterdam, includes prominent lenders like ING, UniCredit, and CaixaBank. This consortium has applied for an electronic money license from the Dutch Central Bank, signaling a concerted effort to enter the burgeoning digital asset market.

The primary objective of Qivalis is to establish robust, blockchain-native payment infrastructure within Europe that adheres to the EU's Markets in Crypto-Assets (MiCA) regulations. The venture aims to support onchain payment systems tailored for corporate clients, offering a compliant and efficient alternative to existing digital payment solutions. Jan-Oliver Sell, formerly of Coinbase Germany, has been appointed as CEO to lead the initiative.

This move by European financial institutions is poised to challenge the dominance of dollar-pegged stablecoins like USDT and USDC in the $300 billion asset class. By leveraging their extensive global presence, the Qivalis banks intend to introduce euro-denominated tokens that provide a cheaper and faster cross-border payment option. The stablecoin is anticipated to launch in the latter half of 2026, following regulatory approval and the finalization of its governance framework.