Qivalis Will Launch Euro Stablecoin in Late 2026
The Amsterdam-based consortium seeks to modernize trade finance through a euro-backed digital asset.
Updated on Sept. 24, 2026 in Financial Services
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Qivalis, an Amsterdam-based consortium of 37 financial institutions, plans to launch a euro-denominated stablecoin in the second half of 2026. The asset will be backed 1:1 by euro fiat currency to facilitate cross-border trade finance.
Why it matters
The stablecoin aims to replace traditional trade-finance collateral cycles that take days with digital processes occurring in minutes. By utilizing this technology, participating banks hope to bypass repeated conversions into fiat currency during international transfers.
The Qivalis consortium spans 37 financial institutions across 15 European countries. The project is designed to capture a portion of the $220.3 billion currently active in global stablecoin cross-border flows.
The players
Qivalis
This Amsterdam-based venture consists of a consortium of European banks developing a euro-denominated stablecoin.
De Nederlandsche Bank
This is the central bank of the Netherlands and the regulator responsible for reviewing the application for Electronic Money Institution status.
The details
Qivalis is seeking authorization as an Electronic Money Institution to ensure compliance with the European Union's Markets in Crypto-Assets framework. As of August 28, 2026, the venture had not received the necessary regulatory approval from De Nederlandsche Bank to begin issuing electronic money.
Timeline
Qivalis was formed as a venture in December 2025.
The consortium reached 37 financial institutions on May 20, 2026.
The venture remained unauthorized as of August 28, 2026.
A target launch for the stablecoin is set for the second half of 2026.
Market Landscape
Qivalis is positioning its infrastructure to operate directly under the European Union's Markets in Crypto-Assets framework. This move reflects a broader trend of institutional consortia seeking legitimacy through regulatory compliance rather than attempting to bypass existing banking oversight.
Customers of the participating 37 financial institutions may eventually experience faster processing times for international trade payments. However, the service remains in the development phase and is not yet available for commercial use.
The takeaway
The Qivalis project highlights the growing trend of legacy financial institutions adopting stablecoin technology to improve liquidity in trade finance. Readers should note that significant regulatory milestones remain before this technology reaches the commercial market.
Further reading
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Source note: This article includes information reported by TokenPost.
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