Euro Stablecoin Initiative by Qivalis and Fireblocks

planned

A consortium of 12 European banks, led by Qivalis, is collaborating with blockchain infrastructure provider Fireblocks to introduce a euro-denominated stablecoin aligned with the Markets in Crypto-Assets framework. The stablecoin is designed to be fully backed on a one-to-one basis with reserves and structured under the regulatory classification of an electronic money institution within the Netherlands. It aims to serve institutional use cases such as financial settlement, treasury management, and tokenized asset transactions, reducing Europe's reliance on dollar-based stablecoins.