Foresight News reports that the stablecoin issuing organization Qivalis, composed of major European banks, has expanded to 12 members. It is currently negotiating with cryptocurrency exchanges, market makers, and liquidity providers to ensure its euro stablecoin can be launched on multiple platforms on the first day in the second half of 2026.
The current members of the consortium include CaixaBank, Banca Sella, BNP Paribas, Danske Bank, DekaBank, DZ BANK, ING, KBC, Raiffeisen Bank International, SEB, UniCredit, and BBVA. BBVA officially joined the consortium in February and announced it would abandon its original independent stablecoin plan to achieve scale through industry collaboration.
The stablecoin will be pegged 1:1 to the euro, with at least 40% of its reserves held in high-credit-rated bank deposits, and the remaining 60% invested in diversified short-term sovereign bonds within the Eurozone to ensure 24-hour redemption capability. Qivalis aims to provide a regulated domestic alternative for the European Union, focusing on real-time cross-border payments between businesses.
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