EU banks’ euro-pegged stablecoin in talks with crypto exchanges to ensure liquidity
Analysis
Price Impact
MedThe introduction of a new, regulated, euro-pegged stablecoin by major eu banks could increase competition and potentially attract liquidity away from other stablecoins, especially those targeting the european market. however, its direct impact on major cryptocurrencies like btc and eth might be limited initially.
Trustworthiness
HighThe project is backed by 12 major eu banks and aims to comply with the eu's mica framework, indicating a high degree of regulatory oversight and institutional backing. this significantly increases trust compared to many existing stablecoins.
Price Direction
NeutralWhile the stablecoin itself is pegged to the euro, its launch is unlikely to cause a direct bullish or bearish price movement for major cryptocurrencies. it may, however, indirectly influence market sentiment and liquidity flows within the broader crypto ecosystem.
Time Effect
LongThe stablecoin is planned for launch in the second half of the year. its full impact on the market, including competition and adoption, will likely unfold over a longer period as it gains traction and establishes its presence.
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Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email EU banks’ euro-pegged stablecoin in talks with crypto exchanges to ensure liquidity Qivalis is a group of 12 major EU banks developing a euro-pegged stablecoin they plan to debut in the second half of the year. By Olivier Acuna | Edited by Sheldon Reback Mar 2, 2026, 2:37 p.m. Make us preferred on Google Twelve EU banks, including BBVA, are in advanced phases of their Qivalis euro-pegged stablecoin project. (Franco Baldoni-Unsplash/Modified by CoinDesk) What to know : Qivalis, a group of major EU banks developing a euro-pegged stablecoin, is in advanced talks with crypto exchanges, market makers and liquidity providers to ensure the token is listed on regulated platforms and has strong liquidity from day one. The token will be backed 1:1 by a mix of bank deposits and high-quality short-term euro-area sovereign bonds, and aims to offer a regulated European alternative to dollar stablecoins. Qivalis, the group of European Union banks developing a MiCA-compliant euro stablecoin, is in advanced discussions with crypto exchanges, market makers and liquidity providers as it prepares to roll out in the second half of this year, Spanish business daily Cinco Días reported on Monday . The group, which includes ING, UniCredit, BNP Paribas, CaixaBank and BBVA, wants to ensure the token is available on regulated trading platforms from day one to ensure liquidity, according to Qivalis CEO Jan Sell. The initiative is designed to provide a European alternative to the U.S.-dominated stablecoin market, contributing to the EU's strategic autonomy in payments, the banks said . A euro-pegged token would allow businesses and consumers in the bloc to make blockchain-based payments and settlements using euros, without relying on traditional financial rails or foreign third-party providers. The Netherlands-based venture is considering European and international venues as it seeks to position the stablecoin as a regulated alternative to U.S. dollar-denominated tokens and a tool for real-time cross-border corporate payments. Spanish crypto exchange Bit2Me confirmed it has held talks with one of the group's banks, though most platforms declined to comment. Qivalis did not immediately respond to a CoinDesk request for confirmation. According to Cinco Dias, Qivalis also disclosed details about the token’s reserve structure. The stablecoin will be backed 1:1, with at least 40% of reserves held in bank deposits and the remainder allocated to high-quality, short-term euro-area sovereign bonds diversified across EU countries. The reserves will be held with multiple highly rated credit institutions, and the design includes 24/7 redemption for token holders. The consortium is seeking authorization from the Dutch central bank under the EU’s Markets in Crypto-Assets (MiCA) framework. Stablecoins European Union BBVA banks More For You Iranian crypto outflows jump 700% minutes after U.S.-Israeli airstrikes, Elliptic says By Will Canny , AI Boost | Edited by Aoyon Ashraf 25 minutes ago The blockchain analytics firm said flows from Iran’s largest exchange spiked immediately after U.S.-Israeli strikes on Tehran, pointing to possible capital flight. What to know : Outgoing crypto transactions from Iranian exchange Nobitex surged 700% within minutes of the initial strikes at the weekend, per Elliptic. The analytics firm linked other spikes in outflows to U.S. sanctions announcements and January unrest followed by an internet blackout. Funds appear to be moving to overseas exchanges, potentially bypassing banking controls, the report said. Read full story Latest Crypto News CoinDesk 20 performance update: NEAR Protocol (NEAR) jumps 12.4% over weekend 23 minutes ago Iranian crypto outflows jump 700% minutes after U.S.-Israeli airstrikes, Elliptic says 25 minutes ago Turkey's ruling party unveils 10% crypto income tax proposal 1 hour ago Strategy purchased more than $200 million in bitcoin last week 1 hour ago South Korea investigates seed phrase leak in photo leading to $4.8 million crypto theft from tax authority 1 hour ago Anthony Pompliano’s ProCap Financial buys 450 bitcoin, steps up share buybacks 1 hour ago Top Stories Bitcoin outperforms equities in risk-off session as Iran conflict enters third day 3 hours ago SpaceX’s $780 million bitcoin stack now down to about $545 million ahead of IPO filing Mar 1, 2026 Polymarket attracts record trading 'world' volumes as U.S.-Iran bets top $529 million Mar 1, 2026 Battered bitcoin could find solace in war-led 'debasement' trade 2 hours ago U.S. equity futures fall in pre-market trading as oil, gold retreat from highs 3 hours ago Iran crisis puts the regime's $7.8 billion crypto shadow economy in spotlight Feb 28, 2026