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Qivalis partners with 12 European banks to promote the euro stablecoin, expected to launch in the second half of 2026.
Deep Tide TechFlow news: on April 21, according to CoinDesk, custody services provider Fireblocks will be responsible for issuing and distributing the euro stablecoin of the Qivalis consortium. The project is expected to launch in the second half of 2026, regulated by the Dutch central bank, and compliant with the EU’s Markets in Crypto-Assets Regulation (MiCAR). Qivalis members include BBVA, BNP Paribas, ING, UniCredit, and 12 European banks in total.
The report says that the current stablecoin market size is about $305 billion, of which around 99% are U.S. dollar stablecoins, and euro stablecoins total about $650 million. Qivalis plans to expand the use of euro stablecoins in institutional scenarios with compliant products.