This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
Qivalis is a joint venture promoted by the European banking industry to create a shared euro-pegged stablecoin that enables secure, simultaneous exchange between digital assets and faster, more efficient euro payments between banks. In addition to BBVA, the consortium includes Banca Sella, BNP Paribas, CaixaBank, Danske Bank, DekaBank, DZ BANK, ING, KBC, Raiffeisen Bank International, SEB and UniCredit.
Qivalis, headquartered in Amsterdam, is currently awaiting authorization as an electronic money institution from the Dutch central bank.
Its main objective is to issue a shared stable cryptocurrency that will allow European banks to offer their clients new payment solutions and settlement of tokenized financial assets using blockchain technology. For example, a self-employed professional could pay suppliers located in other countries, or working with other banks, more quickly and at lower cost, using a euro-linked solution directly integrated into their bank.
The commercial launch is slated for the second half of 2026, once the technical and regulatory developments have been completed.
Alicia Pertusa, head of partnerships & innovation at BBVA, says: “Collaboration between banks is key to create common standards that support the evolution of the future banking model and deliver financial innovation to our clients in a consistent and practical way. In this regard, BBVA brings to Qivalis extensive experience amassed over years of exploring and developing use cases linked to digital assets”
Such initiatives include BBVA’s collaboration with Swift to develop a blockchain platform to serve as a shared digital registry for banks worldwide, as well as its involvement in Agorá, a project headed up by the Bank for International Settlements to optimize wholesale cross-border payments using this technology.
Jan-Oliver Sell, CEO of Qivalis, comments: “Having BBVA join the banking consortium marks an important step forward. With their addition, our network now brings together twelve European banks committed to building a secure, MiCAR‑compliant euro stablecoin framework. This growing alignment strengthens our ability to deliver a resilient institutional-grade on-chain infrastructure for businesses and consumers across Europe and the world.”
Read more on Finextra Research
