EU Banks Aim for Euro-Pegged Stablecoin by 2027

A group of ten banks, collaborating under an entity overseen by the Dutch Central Bank, plans to launch a euro-backed stablecoin in 2026. This initiative will be executed through Qivalis, a newly established Amsterdam-based company focused on stablecoins compliant with the European Union’s Markets in Crypto-Assets (MiCA) framework. Notably, these banks anticipate regulatory approval before rolling out their product, potentially creating new opportunities for both businesses and consumers to engage in digital payments using their native currency within the EU.