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Qivalis expands to 37
Qivalis, a pan-European banking consortium developing a regulated euro stablecoin, said it expanded by adding 25 more credit institutions, bringing its membership to 37 institutions across 15 European countries.
“L'espansione porta il consorzio a 37 istituzioni finanziarie distribuite in 15 paesi europei.”
The new members named in the coverage include ABN AMRO, Rabobank, Intesa Sanpaolo, Nordea, Erste Group and National Bank of Greece, as the project targets a euro-pegged token launched in the second half of 2026.
CoinDesk reported that the initiative is designed to reduce reliance on dollar-backed stablecoins, which it said currently represent about 99% of the global stablecoin market, while the total stablecoin market capitalization is about 318 billion dollars.
CoinMarketCap framed the same expansion as a step toward a 2026 launch, saying Qivalis added 25 new banks across 15 countries to reach 37 member institutions.
CoinMarketCap also tied the consortium’s buildout to the EU’s Markets in Crypto-Assets framework, stating that Qivalis is building its stablecoin under MiCA.
Banks, ECB caution
Qivalis’ expansion was described as a bid to create a “native, regulated euro in the on-chain financial system,” with Cryptopolitan quoting the consortium’s post on X that “25 new banks have joined Qivalis today – bringing our consortium to 37 major institutions.”
Cryptopolitan also quoted Qivalis CFO Floris Lugt describing the move as a “revolutionary moment,” saying “The potential of blockchain technology has consistently gone unrealized because banks did not support it.”
CoinMarketCap said the consortium’s growth comes despite pushback from the European Central Bank, citing ECB President Christine Lagarde’s early-May caution that stablecoins are not Europe’s best route to strengthening the euro’s international role.
FinanceFeeds similarly reported that “ECB President Christine Lagarde said in early May that stablecoins are not an efficient way to strengthen the euro’s international role,” while Qivalis continued to advance its plan to go live in the second half of 2026.
In parallel, FinanceFeeds said Qivalis tapped Fireblocks in March for tokenization technology, wallet infrastructure, custody, and compliance tooling as it prepared for the MiCA-aligned rollout.
2026 launch and stakes
Multiple outlets tied the consortium’s next milestone to regulatory approval and a planned launch window, with CoinMarketCap saying Qivalis’ euro stablecoin project is aimed at a 2026 launch and FinanceFeeds stating the consortium aims to go live in the second half of 2026.
“Qivalis has applied for a Dutch central bank licence to launch a euro-pegged stablecoin, targeting the second half of the year pending regulatory approval.”
The Block reported that Qivalis has applied for a Dutch central bank licence to launch a euro-pegged stablecoin, targeting the second half of the year pending regulatory approval, and said the group is pursuing authorization from De Nederlandsche Bank to operate as an electronic money institution.
CoinDesk said Qivalis plans to debut its stablecoin “garantita da euro” in the second half of 2026 under MiCA and is also seeking an EMI licence from the Dutch central bank.
CoinMarketCap added that Qivalis selected Fireblocks in March for tokenization technology, wallet infrastructure, custody, and compliance tooling, positioning the launch as part of a regulated on-chain payments push.
Across the coverage, the stakes were framed around euro sovereignty and regulatory rigor, with CoinMarketCap quoting Howard Davies that “data protection, financial stability, and regulatory rigor should be embedded into the next generation of digital money.”
