Qivalis Expands to 37 Banks Ahead of Euro Stablecoin Launch

Qivalis, an Amsterdam-based banking consortium, has expanded to 37 member institutions after onboarding 25 new banks across 15 countries. This brings its euro stablecoin project closer to a planned 2026 launch.

The latest additions include ABN AMRO, Rabobank, Nordea, and Intesa Sanpaolo, with Spain contributing the largest share of new entrants at five institutions. France, Sweden, Greece, the Netherlands, Finland, and Ireland each added two new members, while Italy contributed two more.

Qivalis CEO Jan Sell emphasized that 'the euro is Europe's currency' and that on-chain financial infrastructure should carry it, built by European institutions and governed by European rules. The consortium is building its stablecoin under the European Union's MiCA framework, with data protection, financial stability, and regulatory rigor embedded into the next generation of digital money.

Despite pushback from the European Central Bank, Qivalis has made significant progress in advancing its euro-denominated digital currency initiative. The consortium selected digital asset custody provider Fireblocks for tokenization technology, wallet infrastructure, custody, and compliance tooling in March.