BBVA Joins Qivalis for European Stablecoin

BBVA Joins Qivalis Consortium to Develop Euro-Pegged Stablecoin

• Spain’s second-largest lender, BBVA, has joined Qivalis, a consortium of major banks creating a euro-pegged stablecoin.
• The stablecoin aims for a late-2026 launch and will comply with MiCAR regulations to enhance Europe’s financial autonomy.
• Qivalis, initially formed by nine banks, now includes 12 major institutions like BNP Paribas and ING.
• The venture is seeking authorization as an Electronic Money Institution from the Dutch Central Bank.
• BBVA has been active in digital assets, collaborating with SWIFT and partnering with Binance.

BBVA’s participation in the Qivalis consortium underscores its commitment to advancing digital asset infrastructure in Europe through a euro-pegged stablecoin initiative. The project aims to challenge US dollar dominance in stablecoins while providing efficient payment solutions.