Qivalis Expands Euro Stablecoin Consortium to 37 Banks on Wednesday

According to Qivalis, the euro stablecoin consortium expanded to 37 European banks on Wednesday after adding 25 new lenders, including ABN Amro, Intesa Sanpaolo, Rabobank, and Luxembourg state-owned Spuerkeess. The expanded membership strengthens the group's effort to establish a bank-supported onchain euro settlement network.

Qivalis, which launched in December 2025 with 12 founding members, is pursuing authorization from De Nederlandsche Bank to operate as an electronic money institution. The consortium plans to issue a euro-backed stablecoin 1:1 with euros and high-quality liquid assets. CEO Jan-Oliver Sell told the Financial Times the group anticipates receiving its license in the second half of 2026 and aims to go live immediately upon approval.