12-Bank Consortium Including BBVA Targets H2 2026 Euro Stablecoin Launch
Qivalis consortium of 12 banks including BBVA targets H2 2026 euro stablecoin launch, negotiating distribution agreements for liquidity and seeking EMI authorization in the Netherlands. The project under MiCAR aims to create an interoperable, euro-pegged settlement instrument among major banks to facilitate digital payments and asset settlements at scale.
1. Consortium Formation
Qivalis is an Amsterdam-based consortium formed by 12 major European banks, including BBVA, BNP Paribas, ING, UniCredit and CaixaBank, aiming to issue a single euro-pegged stablecoin under a unified governance framework.
2. Liquidity Partnerships
The consortium is in advanced talks with crypto-asset trading platforms and liquidity partners to secure distribution agreements that ensure deep liquidity and stable pricing from the H2 2026 launch date.
3. Regulatory Path
Qivalis is pursuing authorization as an electronic money institution under the Dutch Central Bank, structuring its issuer model to comply with MiCAR requirements for regulated fiat-linked tokens.
4. Strategic Implications
Participation in this euro stablecoin initiative enables BBVA to expand its digital payments and settlement offerings, leveraging network effects from interoperable bank-issued tokens across Europe.