Spanish business newspaper Cinco Días reported on Monday that Qivalis, a consortium of major European banks, is in advanced talks with cryptocurrency exchanges and liquidity companies for a planned euro stablecoin rollout.
Cinco Días reports that the group, including banks such as ING, UniCredit and recently added BBVA, is moving towards the launch of a stablecoin in the second half of 2026.
According to reports, the consortium is currently in advanced discussions with crypto exchanges, market makers and liquidity providers. Equity banks themselves can also issue stablecoins.
The news comes months after the banks first announced the consortium in September 2025 with nine initial members, including ING, UniCredit, CaixaBank, Danske Bank, Raiffeisen Bank International, KBC, SEB, DekaBank and Banca Sella.
Qivalis is considering European and international partners
Jan Sell, CEO of Qivalis and former head of Coinbase in Germany, said that the consortium is considering cooperation with European and international platforms.
He noted that this is in line with the project’s global vision and its priority to provide a “domestic regulated alternative to US dollar-denominated stablecoins”.
“This is critical for our core use cases, such as facilitating cross-border business-to-business and global trade payments,” he said.
The consortium is looking for partners that comply with the European Union’s regulatory framework, including block markets in the regulation of crypto-assets. According to the report, Bit2Me, a MiCA license exchange in Spain, is among the platforms that have negotiated with one of the banks in the consortium.
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During the presentation, the financial director of Qivalis, Floris Lugt, said that stablecoin reserves are supported by 1:1 and at least 40% of bank deposits.
The rest is expected to be held in high-quality, short-term sovereign bonds from a range of eurozone countries to avoid concentration in any one country, he said. He also said that the euro stablecoin supports 24/7 redemptions for token holders.
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