Fireblocks, a digital asset infrastructure provider, announced a collaboration with the Qivalis consortium, which consists of 12 major European banks, to launch a new stablecoin. Scheduled for release in the second half of 2026, the asset will be fully compliant with the European Union’s MiCAR regulatory framework. The project will operate under the supervision of the Dutch Central Bank through its Amsterdam-based structure.
The consortium includes major financial institutions such as BBVA, BNP Paribas, ING, UniCredit, and CaixaBank. The euro-backed stablecoin is designed to minimize volatility and provide a more stable digital asset option, particularly for institutional users. This move is seen as a significant step toward deeper integration of traditional banking systems with the digital asset ecosystem.
As of early 2026, the stablecoin market has reached $305 billion, with approximately 99% dominated by dollar-pegged assets. Euro-based stablecoins, however, account for only around $650 million. This new initiative aims to rebalance the market and strengthen the euro’s role in the global digital finance landscape.
