A 12-bank European consortium led by Qivalis is partnering with Fireblocks to develop a regulated euro stablecoin under MiCA, targeting launch in the second half of 2026.
A consortium of 12 European banks led by Qivalis has selected digital asset custody provider Fireblocks to provide infrastructure for a Markets in Crypto-Assets Regulation (MiCA)-compliant euro stablecoin, according to a Tuesday release shared with Cointelegraph.
Qivalis’s stablecoin is intended to support institutional use cases such as settlement, treasury and tokenized assets. Fireblocks said it will provide tokenization technology, wallet infrastructure, custody, and other important tools and features to support compliance, such as identity verification and sanctions screening.
Qivalis, launched in 2025, is a Netherlands-based venture backed by major banks including BBVA, BNP Paribas, ING and UniCredit, which plans to issue a fully regulated, 1:1-backed euro token structured as an electronic money institution under Dutch supervision. The group says it is targeting a launch in the second half of 2026, subject to approval from the Dutch central bank, De Nederlandsche Bank, under the European Union’s MiCA regulatory framework.
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