In a significant development for the European cryptocurrency landscape, the Qivalis consortium has garnered support from 37 banks across Europe for its ambitious stablecoin initiative. Launched in Amsterdam in 2025, this project aims to create a stablecoin pegged to the Euro, positioning Europe as a competitive player in the global digital assets market. According to analysts cited in the report, the outlook is promising.
Introduction to Qivalis Stablecoin
The primary goal of the Qivalis stablecoin is to provide a viable alternative to the US Dollar, which has long dominated the crypto space.
CEO's Vision for European Sovereignty
Jan-Oliver Sell, the CEO of Qivalis, underscored the necessity of European sovereignty in the face of current geopolitical challenges.
Enhancing Cross-Border Payment Systems
He noted that the consortium's efforts could significantly enhance cross-border payment systems and enable immediate settlements, thereby streamlining transactions within the European market.
Fostering Financial Independence and Innovation
This initiative not only aims to bolster the region's financial independence but also to foster innovation in digital finance.
Recently, Spanish bank Sabadell joined the Qivalis consortium, which is working on a Euro-pegged stablecoin, enhancing the initiative discussed in the recent news about the support from 37 banks. For more details, see Sabadell joins consortium.
