- A nine-bank consortium is planning to launch a euro stablecoin in 2025.
- The group has incorporated as Qivalis in the Netherlands and added BNP Paribas as a member.
- The stablecoin issuer will operate independently from the participating banks.
- Jan-Oliver Sell, CEO of Qivalis, highlighted this operational independence.
A consortium of nine banks announced the formation of Qivalis, a company incorporated in the Netherlands to launch a euro stablecoin next year. The group recently expanded to include BNP Paribas, one of Europe’s largest banks. This effort aims to create a stable digital currency backed by euros.
According to an interview with Qivalis CEO Jan-Oliver Sell, the entity responsible for issuing the stablecoin will maintain operational independence from the member banks. A stablecoin is a type of cryptocurrency designed to have a stable value by pegging it to a reserve asset like a fiat currency, in this case, euros.
The launch of this euro stablecoin is part of an initiative by major banks to provide a secure and regulated form of digital money. This development supports the growing interest in digital currencies within Europe and aims to enhance payments and settlements. The stablecoin is expected to be available in 2025, offering a regulated alternative to existing digital currencies. For more information, see Qivalis website.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Mistral AI Debuts Mistral 3, Turbocharges Nvidia Blackwell Performance
- UK to Ban Political Parties from Accepting Crypto Donations
- CME Group Launches New Crypto Benchmarks for Institutional Traders
- Nvidia CFO: Global GPU Data Centers May Hit $4 Trillion by 2030
- Hedera November 2025: Portal Upgrade, Tutorials, and HIP Proposals
