In brief: Qivalis is joined by BBVA

Last September, a consortium was created by 9 leading European banks with the ambition to contribute to the development of the euro digital payments ecosystem. Named Qivalis, this consortium was to carry a new stable in euros. Today, it is joined by a new major bank: BBVA.

BBVA therefore associates itself with CaixaBank, ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB and Raiffeisen Bank International, the 9 banks that founded Qivalis. The latter were also joined by BNP Paribas Last December, stating at the same time that they have made concrete their ambition to set up an entity in the Netherlands to apply for authorisation of electronic money to the Dutch Central Bank.

Today, therefore, the Qivalis project can also count on BBVA's support and commitment. The Spanish bank will bring its experience on the use of digital assets here and cite other initiatives to justify its expertise (partnership SWIFT and Project Agorá/BIS).

The aim of the project's eleven partners is to provide European banking customers with faster and cheaper payments, as well as the possibility of settling tokenised financial assets via the blockchain, in a regulated framework in accordance with the MiCAR.

Qivalis is still waiting for the approval of the Dutch Central Bank to operate as an electronic money institution, with high standards of governance and customer protection. The commercial launch of its stablecoin is nevertheless planned for the second half of 2026, subject to technical and regulatory developments.

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