Qivalis, an Amsterdam-based banking consortium building a highly regulated euro-denominated stablecoin, announced a massive expansion of its network. The project has successfully onboarded 25 new member banks spanning 15 countries, bringing its total institutional coalition to 37 members ahead of a highly anticipated launch slated for the second half of 2026.
The newest wave of participants introduces heavy-hitting European banking pillars to the project, including ABN AMRO, Rabobank, Nordea, and Intesa Sanpaolo.
The expansion showcases deep, cross-border participation across both northern and southern Europe, with France, Sweden, Greece, the Netherlands, Finland, and Ireland each adding two new banks to the alliance. However, Spain emerged as the dominant force in this expansion wave, contributing five major institutions: ABANCA, Banco Sabadell, Bankinter, Cecabank, and Kutxabank.
Spain’s sudden concentration within Qivalis aligns perfectly with broader on-chain data trends. Recent metrics from crypto-banking platform Brighty highlighted Spain as one of the fastest-growing retail markets for Euro stablecoin utility, specifically driving high transaction volumes for Circle’s EURC token.
By unifying these diverse regional banking networks under one umbrella, Qivalis aims to deliver a frictionless payment rail that complies directly with the European Union’s strict Markets in Crypto-Assets (MiCA) regulatory framework. To handle the operational heavy lifting, the consortium partnered with infrastructure giant Fireblocks in March to secure institutional tokenization technology, advanced wallet architectures, and automated compliance screening tools.
