#None #Amsterdam #MiCAR #Fireblocks #Qivalis

Introduction

Qivalis, a consortium comprising twelve prominent European banks, has ambitious plans to create a euro-backed stablecoin, aiming to challenge the dominance of dollar-denominated stablecoins in the market. Partnering with Fireblocks, a cornerstone for digital asset infrastructure, Qivalis is set to leverage cutting-edge technology to ensure the compliance and security of its new financial product.

The Euro-Backed Stablecoin Project

Scheduled for launch in the latter half of 2026, this stablecoin is poised to be a significant player in the evolving cryptocurrency landscape. The twelve banks involved include industry giants such as Banca Sella, BBVA, and BNP Paribas. By obtaining authorization from De Nederlandsche Bank (the Dutch Central Bank) through Qivalis, the project guarantees adherence to the European Union’s Markets in Crypto-Assets Regulation (MiCAR).

In the current crypto market, despite its immense growth—with a valuation of $305 billion in January 2026—dollar-denominated assets hold a staggering 99% market share, while euro-pegged assets barely reach $650 million. Qivalis aspires to shift this balance towards a regulated euro-backed option that institutions can rely on.

Why Fireblocks?

Fireblocks has been selected as the key technological partner for its robust, end-to-end platform. This includes their tokenization engine and treasury management capacities, designed to secure the stablecoin’s issuance, distribution, and lifecycle management. The infrastructure will not only bolster security but also enhance operational capabilities through compliance and governance controls, including added layers like Anti-Money Laundering (AML), Know Your Customer (KYC) screening, and fraud monitoring efficiently integrated into transaction workflows.

Michael Shaulov, the CEO and Co-Founder of Fireblocks, stated, "This collaboration demonstrates how major financial institutions can work together to scale compliant euro-backed stablecoins effectively." Fireblocks’ technology is designed to help banks meet regulatory requirements without sacrificing operational efficiency.

Advantages for Member Banks

The strategic partnership with Fireblocks allows each participating bank to offer wallet services, custody, and payment orchestration, thus opening up new revenue streams. The multi-institution architecture provided by Fireblocks ensures secure data management through granular permission controls, which are crucial for institutions wanting to maintain compliance with regulatory standards.

Jan Sell, Qivalis' CEO, emphasizes the importance of a regulated euro-backed stablecoin, stating that it provides a needed financial tool for trusted institutions in Europe. It is anticipated that Fireblocks’ robust platform will play a key role in delivering this much-needed solution.

The Growing Demand for Stablecoins

Transaction volumes for stablecoins skyrocketed to $11 trillion in the last quarter of 2025 alone. With a total annual transaction volume of $33 trillion, marking a 75% increase year-over-year, the necessity for stable and compliant digital currencies has never been more essential. The forthcoming Qivalis platform is designed to integrate 24/7 cross-border settlement options for both financial instruments and cryptocurrencies, enhancing capabilities for corporate banking, trade finance, and securities settlement.

Conclusion

In a landscape where digital currencies are burgeoning, Qivalis’ initiative to introduce a euro-backed stablecoin reflects the increasing need for trustworthy and regulated digital alternatives. Through the collaboration with Fireblocks, this project not only promises to elevate institutional trust in digital assets but also furthers the broader objective of integrating traditional finance with digital innovations. As we approach the launch in 2026, the financial community watches closely, anticipating how this new stablecoin may reshape the payment standards in Europe and beyond.

For further information, visit Fireblocks.