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      Qivalis Consortium Launches Euro-Backed Stablecoin to Transform Trade Finance

      A coalition of 37 banks across 15 European countries is developing a euro-backed stablecoin on the Ethereum blockchain, aiming to enhance trade finance between Europe and Asia, a corridor valued at approximately $5 trillion annually. The initiative, led by Qivalis, seeks to create a competitive alternative to the dominance of dollar-denominated stablecoins, which currently hold over 95% of the global market share.

      The euro-pegged electronic money token is expected to be issued in the second half of 2026, pending regulatory approval from De Nederlandsche Bank, the central bank of the Netherlands. If successful, it would mark one of the first institutional-grade euro stablecoins designed specifically for trade finance and cross-border transactions. Qivalis plans to maintain at least 40% of its reserves in bank deposits, with the remainder in high-quality euro-area sovereign bonds, in compliance with the EU's Markets in Crypto-Assets Regulation (MiCA).

      The project aims to streamline the traditionally cumbersome trade finance process, which often involves extensive paperwork and multiple intermediaries, leading to delays in fund transfers. By implementing an on-chain euro settlement layer, Qivalis intends to reduce transaction times and counterparty risks associated with each intermediary. This could result in significant cost savings for the trade corridor, which handles substantial financial flows annually.

      While competitors like Circle and Societe Generale have introduced euro-denominated stablecoins, Qivalis's unique advantage lies in its extensive consortium of banks, providing a robust distribution network for the token's adoption in daily operations. The selection of Fireblocks as a technology partner for tokenization and compliance further underscores the project's commitment to leveraging public blockchain infrastructure for long-term benefits.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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