European banks form group to launch euro-pegged stablecoin
A consortium of 10 European banks has established a company called Qivalis to launch a euro-pegged stablecoin, according to an announcement from the group. The initiative aims to provide an alternative to U.S. dollar-dominated digital payment systems.
Summary
- Major European banks have formed a consortium called Qivalis to launch a euro-pegged stablecoin, aiming to counter U.S. dollar dominance in digital payments.
- The token is expected to launch in H2 2026, pending regulatory approval, with former Coinbase Germany CEO Jan-Oliver Sell as CEO and ex-NatWest chair Howard Davies as chair.
- The stablecoin will initially target crypto trading and payments, as regulators and the ECB…
