Spain’s BBVA Bank Joins Euro Stablecoin Alliance to Challenge the Dominance of Dollar-Based Digital Currencies
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Spain’s BBVA Bank Joins Euro Stablecoin Alliance to Challenge the Dominance of Dollar-Based Digital Currencies
According to CoinDesk, Spain’s second-largest bank, BBVA (with $800 billion in assets), has announced its entry into the Qivalis stablecoin consortium, which now comprises 12 major EU banks, including BNP Paribas, ING Group, and UniCredit. Qivalis plans to launch a regulated euro-denominated stablecoin in the second half of 2026, aiming to challenge the current $30 billion market dominated by U.S. dollar–pegged stablecoins. The project is seeking authorization from the Dutch Central Bank and will comply with the EU’s MiCA regulatory framework.
Navigating Web3 tides with focused insightsTechFlow News: On February 4, according to CoinDesk, BBVA—the second-largest bank in Spain with $800 billion in assets—announced its membership in the Qivalis stablecoin consortium. The consortium now comprises 12 major EU banks, including BNP Paribas, ING Group, and UniCredit. Qivalis plans to launch a regulated euro-denominated stablecoin in the second half of 2026, aiming to challenge the current $30 billion market dominated by U.S. dollar–pegged stablecoins. The project is seeking authorization from the Dutch Central Bank and will comply with the EU’s Markets in Crypto-Assets (MiCA) regulatory framework.
