Europe has officially stepped into the stablecoin arena — and it’s not coming quietly.
Ten major EU banks, including heavyweights like BNP Paribas, are teaming up to launch the first bank-backed euro stablecoin.
The whole operation runs through Qivalis (Amsterdam), with launch locked in for H2 2026 ⚡
🇪🇺 Why this move changes the entire game
Qivalis CEO Jan-Oliver Sell didn’t sugarcoat it:
👉 “This is about monetary autonomy in the digital era.”
Hard truth: 99% of stablecoins today are pegged to the US dollar.
Web3 runs on a crypto-dollar standard — Europe wants to break that dependence and build:
💶 a native on-chain euro
💶 a unified digital payments market
💶 a real counterweight to U.S. dominance in Web3
🇺🇸 The U.S. already made its move
President Donald Trump just signed the GENIUS Act, locking in America’s grip on the stablecoin sector.
Europe’s response? Qivalis — the opening shot in a Web3 currency war. ⚔️🌐
💥 Tether exits, banks enter
Tether shut down EURt because of strict MiCA rules.
That opened the space — and now Europe’s biggest banks are stepping in with full regulatory approval.
Add rising ECB rates → profitable euro reserves →
Suddenly bank-issued euro stablecoins are not just possible… they’re strategically perfect.
🔮 What this means for crypto
🔥 The first real challenge to the crypto dollar in 10+ years
🔥 Traditional banks are charging into Web3, not tiptoeing
🔥 MiCA is pushing out old players and pulling in institutional giants
🔥 Crypto is now officially part of the global currency power struggle
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