Qivalis Euro Stablecoin Aims to Launch Later This Year with Institutional-Grade Trust
The European Blockchain Convention's second day saw a panel discussion on stablecoins and FX automation for a multi-currency world. The KuCoin EU Main Stage hosted Aaron Sanchez, Director of Industry Engagement at the MiCA Crypto Alliance, who moderated a talk with Jan-Oliver Sell, CEO of Qivalis, Gabriel Lera Campo, Digital Assets Specialist at BBVA, Immo Garlichs, Product Manager for Digital Assets and Currencies at Deutsche Bank, and Sudeep Mehta, COO of STBL.
Qivalis is a euro stablecoin built by a group of European banks. Sell revealed that the consortium currently has 37 European banks backing it and is an open one, with hopes to expand further. He stated they are looking to put the euro on chain with institutional-grade trust and liquidity, making it genuinely useful at scale.
The panelists discussed how institutions now have a rulebook but need a cash leg to use blockchain processes effectively. Garlichs added that stablecoins are a natural addition to Deutsche Bank's payments book, as FX is their daily business. Digital asset custody for corporate institutions will go live 'in a couple of weeks.'
Campo emphasized that European payment systems are efficient and still being improved, but stablecoins have a place in corridors that take days to complete transactions. He pointed out that most volume flows come from Africa, where Africans and businesses buy euro stablecoins to exchange for euros and make payments.