European Banks Plan Euro Stablecoin Launch on Ethereum by Late 2026

A consortium of 37 European banks has announced plans to issue a euro stablecoin called Qivalis on the public Ethereum blockchain by the second half of 2026. Unlike previous bank tokens, which were issued on closed networks, this stablecoin will be accessible in any Ethereum-compatible wallet, allowing broader public use.

The token will be backed one-to-one by euros held in secure deposits but is not a bank deposit and thus not covered by deposit insurance. Users should verify issuer authorization, redemption rights, wallet compatibility, and be aware that transactions require ether for fees.

The project is still pending regulatory approval from the Dutch central bank, making the launch date tentative. This move could make blockchain-based euro tokens more mainstream but requires careful attention to regulatory and technical details by investors.