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European Banks Launch Stablecoin Company qivalis to Counter US Dominance
ByAinvest
Tuesday, Dec 2, 2025 9:14 am ET1min read
Ten European banks have formed a new company, qivalis, to create a euro-pegged stablecoin to counter US digital-dollar systems. The consortium includes ING, UniCredit, and others, with Jan-Oliver Sell as CEO. The plan is to secure an Electronic Money Institution license and launch the stablecoin in the early second half of 2026. The move comes as the US accelerates its own stablecoin expansion under the GENIUS Act.
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