BNP Paribas Joins EU Bank Stablecoin Venture Helmed by Ex-Coinbase Germany Exec

Overview

BNP Paribas has joined a coalition of ten banks that are collaborating to launch a euro stablecoin. This initiative is being managed by a new Dutch entity called Qivalis, with the aim of introducing the stablecoin next year.

Details of the Initiative

The consortium consists of ten banks that have come together to develop and issue a euro stablecoin. The stablecoin project is significant as it seeks to innovate within the financial sector by leveraging blockchain technology. The establishment of Qivalis as the managing entity highlights a structured approach to this endeavor, ensuring regulatory compliance and operational efficiency.

The involvement of BNP Paribas, a major player in the banking industry, underscores the increasing interest and participation of traditional financial institutions in the digital currency space. The initiative reflects a growing trend among banks to explore stablecoins, which are designed to maintain a stable value by being pegged to traditional currencies.

Impact on the crypto market

• The collaboration of ten banks, including BNP Paribas, signals a shift toward mainstream acceptance of stablecoins in the financial sector.
• The introduction of a euro stablecoin may enhance liquidity and facilitate smoother transactions in the digital economy.
• The establishment of Qivalis could pave the way for regulatory frameworks that govern stablecoin operations within the European Union.
• Increased participation from traditional banks may bolster investor confidence in the legitimacy and stability of crypto assets.
• The project may encourage further innovations in the intersection of banking and blockchain technology.

Updated: 12/2/2025, 3:28:29 PM