Qivalis is a bank-backed euro stablecoin initiative based in Amsterdam, created by a consortium of major European banks to bring regulated, euro-denominated money onto blockchain rails. Rather than a crypto-native startup courting banks, Qivalis started the other way around — a shared piece of financial infrastructure built directly by the banking sector, with a consortium reported to include ING, UniCredit, CaixaBank, BNP Paribas, ABN AMRO, and dozens of other institutions across 15 countries.
The company is reported to be applying for an Electronic Money Institution licence from De Nederlandsche Bank, with a planned launch in the second half of 2026, positioning itself as a MiCA-compliant alternative to the dollar-denominated stablecoins that currently dominate the market. Its leadership pairs crypto-industry and banking backgrounds: reported hires include a CEO formerly of Coinbase Germany, a CFO from ING's digital asset team, and former NatWest chair Howard Davies as board chair.