Pan-European stablecoin effort expands to 37 lenders in push back against U.S. dollar dominance
The Qivalis stablecoin initiative has expanded its membership to 37 banks across Europe, aiming to enhance the euro's presence in digital finance. This move is part of a broader strategy to challenge the dominance of U.S. dollar-backed stablecoins, which currently hold a significant share of the market. The consortium plans to launch a MiCA-compliant euro stablecoin in the latter half of 2026.
- ▪Qivalis has tripled its membership to 37 banks from 15 European countries.
- ▪The initiative aims to boost the euro's role in digital payments and tokenized finance.
- ▪The group plans to debut its euro-backed stablecoin under the EU's MiCA framework in 2026.
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| Publication time | Wed, 20 May 2026 08:44:08 +0000 |
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FinanceShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailPan-European stablecoin effort expands to 37 lenders in push back against U.S. dollar dominanceQivalis, a stablecoin initiative backed by a group of European banks, aims to issue a stablecoin later this year to deepen the euro's role in tokenized finance.By Krisztian Sandor|Edited by Sheldon Reback May 20, 2026, 8:44 a.m. 2 min readMake preferred on Jan-Oliver Sell, CEO of Qivalis (Qivalis)What to know: European stablecoin consortium Qivalis tripled its membership to 37 banks across Europe as lenders accelerated their move into blockchain-based finance.The banks see the initiative as a way to boost the euro's role in digital payments and tokenized finance to challenge the dominance of U.S.
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