Qivalis
Qivalis is a company owned by European banks that prepares a euro stablecoin. The token is to be a digital euro on public blockchains, issued one to one against euros and redeemable for euros at any time. Banks, companies and other users are to pay and settle with it around the clock, including weekends and holidays.
Qivalis belongs to 37 banks from 15 European countries, which hold it as a joint venture. The company is based in Amsterdam and holds an e-money license from the Dutch central bank, De Nederlandsche Bank. Qivalis has not issued any tokens yet and plans to start issuance in the coming months.
From nine banks to 37
Nine European banks announced the plan for a joint euro stablecoin on 25 September 2025 and set up Qivalis in Amsterdam. According to CaixaBank, one of the founding banks, the token is meant for payments and settlement around the clock. DZ BANK joined as the eleventh member at the end of December 2025, and BBVA followed in February 2026 as the twelfth. In May 2026 Qivalis added 25 member banks in one step.
The 37 members include ABN AMRO, BBVA, BNP Paribas, CaixaBank, Danske Bank, Erste, ING, Intesa Sanpaolo, KBC, Nordea, Rabobank, Raiffeisen Bank International, SEB, Swedbank and UniCredit. Three members are German banks from Frankfurt: DZ BANK, Helaba and DekaBank.
E-money license from De Nederlandsche Bank
On 14 October 2026 De Nederlandsche Bank authorized Qivalis as an electronic money institution, and DNB supervises the company from that date. Under MiCA, a token that references a single official currency is an e-money token, and only a credit institution or an e-money institution may offer one to the public. The license makes Qivalis eligible to issue euro e-money tokens in the EU.
Infrastructure and management
Qivalis chose Fireblocks as its core infrastructure provider for issuing, distributing and managing the token, including tokenization and treasury management. Jan-Oliver Sell is chief executive officer, Floris Lugt chief financial officer and Marco Hinz chief operating officer. Olga Elsenga, previously head of legal at ClearBank Europe, joined the management board as chief risk and compliance officer on 1 October 2026.
Upcoming events on stablecoins and digital money
Which banks are behind Qivalis?
37 European banks from 15 countries own Qivalis, among them BNP Paribas, ING, UniCredit, CaixaBank, BBVA, KBC, SEB and Danske Bank. The German members are DZ BANK, Helaba and DekaBank.
When will the Qivalis stablecoin launch?
Qivalis received its e-money license from De Nederlandsche Bank in October 2026 and plans to start issuing in the coming months. The name of the token and the blockchains it will run on have not been announced.
Is DZ BANK part of Qivalis?
Yes. DZ BANK joined Qivalis at the end of December 2025 as the eleventh member bank.
Qivalis and Finance Loop
DZ BANK and DekaBank, two of the Qivalis member banks, are based in Frankfurt, and their employees regularly attend Finance Loop events. Euro e-money tokens belong to Finance Loop's Payments & Digital Money track. Finance Loop is a partner of the Digital Euro Association, whose conference puts euro stablecoins on the agenda next to the digital euro.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.