Qivalis, the company building a euro-backed stablecoin, has added 25 new banks to its partner network. The project now counts 37 banks across 15 countries, all lined up to support the coin's rollout in the second half of 2026.
A jump from 12 to 37 banks
The expansion more than triples Qivalis's previous footprint. Before this round, the stablecoin project had 12 banks in a handful of European markets. Now it covers 15 countries, though the company hasn't released a full list of the new institutions. The banks will handle reserves, transactions, and redemptions for the planned digital euro token.
Why the long runway to 2026
Qivalis first announced its euro stablecoin plans over a year ago. The launch window — the second half of 2026 — is still more than 18 months away. That timeline suggests the company is taking a deliberate approach to regulatory compliance and technical integration with its growing bank network. Stablecoin projects often face scrutiny from European regulators, especially after the Markets in Crypto-Assets (MiCA) framework came into force. Qivalis hasn't said whether it's already applied for a license under MiCA.
What the bank lineup means
Having 37 banks in 15 countries gives Qivalis a broad base for distributing its stablecoin across the eurozone. Users in participating countries will likely be able to buy, sell, and redeem the token directly through their bank accounts. That could help the coin compete with existing euro stablecoins like Stasis EURS or Circle's EURC, though Qivalis hasn't outlined specific market share goals. The company's focus remains on building the infrastructure before the launch date.
The next milestone will be any public announcement of a regulatory approval or a concrete launch date. For now, the banking network is set, and the countdown to the second half of 2026 continues.
