Qivalis Euro Stablecoin Initiative

Euro Stablecoin Planned by European Banks for 2026 Launch

Key Points:

  • Main event initiated by European banks for financial innovation.
  • Euro stablecoin targets digital monetary autonomy.
  • Launch aims at globally competitive digital economy infrastructure.

Qivalis, comprising ten European banks, plans to launch a euro-pegged stablecoin by late 2026, supervised by the Dutch Central Bank in Amsterdam.

Qivalis’ euro stablecoin proposition addresses the need for a competitive, compliant euro digital currency, impacting future digital payments in the EU.

Strategic Initiative by European Banks

Qivalis, formed by Banca Sella, CaixaBank, and other banks, will issue a euro stablecoin compliant with MiCAR by 2026. Jan-Oliver Sell, former Managing Director at Coinbase Germany, leads the initiative as CEO. The consortium’s goal is to create a euro-denominated stablecoin to enhance digital commerce and financial innovation.

Jan-Oliver Sell, CEO, Qivalis, “The launch of a euro-denominated stablecoin, backed by a consortium of European Banks, represents a watershed moment for European digital commerce and financial innovation. A native Euro stablecoin isn’t just about convenience – it’s about monetary autonomy in the digital age.”

The announcement marks a strategic move towards offering a European alternative to US dollar-backed stablecoins. BNP Paribas highlights the project’s significance in supporting blockchain payments compliant with MiCAR. This stablecoin, set to revolutionize 24/7 cross-border payments, is designed to bolster programmable payments and supply chain management. There are no immediate impacts on cryptocurrencies like ETH or BTC since the stablecoin is pre-launch.

Regulatory and Economic Considerations

Long-term financial impacts remain speculative, but the stablecoin could influence global digital financial systems. Regulatory considerations are significant, with Qivalis operating under Dutch Central Bank supervision. The project endeavors to ensure regulatory compliance and economic sustainability within the EU’s blockchain-based digital economy framework.

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