European bank consortium targets 2026 launch for euro-backed stablecoin: report

A consortium of 12 major European banks called Qivalis is developing a euro-backed stablecoin targeting launch in the second half of 2026. This represents a significant move by traditional European banking institutions into the cryptocurrency space with their own digital asset offering.

• →12 major European banks are collaborating through the Qivalis consortium to create a euro-backed stablecoin.
• →The stablecoin is targeting a launch date in the second half of 2026.
• →This represents traditional European banking institutions making a direct entry into the cryptocurrency market.
• →The initiative could provide a regulated, bank-backed alternative to existing stablecoins in the European market.