Bank Consortium Partners with Qivalis to Develop Euro Stablecoin
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 3 day ago
BNP Paribas Joins Qivalis Consortium: BNP Paribas is part of a consortium of ten major European banks, including CaixaBank and ING, that aims to launch a euro-backed stablecoin by 2026, pending regulatory approval.
Focus on Digital Transformation: The initiative reflects a strategic move towards digital payments and blockchain technology, aiming to create a European alternative to existing dollar-backed stablecoins.
Stablecoin Compliance and Design: The planned stablecoin will be fully backed by safe reserves and designed to comply with the EU’s MiCA regulation, facilitating low-cost, near-instant payments and settlements.
Leadership and Governance: Qivalis has appointed key figures for its leadership team, including Jan-Oliver Sell as CEO, with governance plans awaiting regulatory approval, emphasizing the project's alignment with Europe's payment autonomy goals.
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Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
