In a significant development for the European digital finance landscape, Spanish bank Sabadell has joined the Qivalis consortium, which is focused on creating a Euro-pegged stablecoin. The source reports that this initiative aims to improve transaction efficiency and bolster the region's digital assets market.
Qivalis Consortium Launching Stablecoin
The Qivalis consortium, founded in Amsterdam, comprises several prominent European banks and is on track to launch the stablecoin in the latter half of 2026. This collaborative effort underscores the commitment of traditional financial institutions to innovate and adapt in response to the rapidly evolving stablecoin sector.
Strategic Move Towards Euro-Pegged Stablecoin
By developing a stablecoin pegged to the Euro, the consortium aims to provide a viable alternative to the US Dollar, which currently dominates the digital payments space. This strategic move reflects a growing recognition among European banks of the need to enhance their competitive edge in the global financial ecosystem.
In contrast to Sabadell's recent move towards a Euro-pegged stablecoin, HSBC and Anchorpoint clarified that they have not yet launched any stablecoins, despite having obtained necessary licenses. For more details, see more.
