37 European Banks Move Closer to Euro Stablecoin Launch Under Dutch Qivalis Licence
Thirty-seven European banks, including BNP Paribas, ING and BBVA, are advancing plans for a euro stablecoin using a Qivalis licence in the Netherlands. The project would give major lenders a shared foothold in digital tokens tied to the euro.
A group of 37 European banks is taking a step toward issuing its own euro-denominated stablecoin, using a licence held by Qivalis in the Netherlands.
The consortium includes large lenders such as BNP Paribas, ING and BBVA, according to reports. The banks are working through Qivalis’ Dutch licence as they move closer to a potential launch.
A stablecoin is a type of digital token whose value is linked to a reference asset, often a traditional currency. In this case, the token would be tied to the euro and backed by participating institutions.
For the banks involved, a shared stablecoin could eventually offer a new way to settle transactions and experiment with tokenised financial products while staying within existing regulatory frameworks.
Using a licence in the Netherlands indicates the group is anchoring the project in an EU jurisdiction from the outset rather than operating from offshore centres.
Further details on timing, technical design and how the stablecoin would be used in everyday banking have not yet been made public. Market and policy reactions will depend heavily on those decisions and on how supervisors respond as the project moves from planning toward launch.
Sources
- OSINT