🇪🇺 European Banks Launch First Bank-Graded Euro Stablecoin – Challenging the “Crypto-Dollar Standard”

Ten major EU banks—led by BNP Paribas—are partnering with Amsterdam-based Qivalis to launch a regulated, bank-issued euro stablecoin, set for release in H2 2026.

This move marks Europe’s strategic push for monetary autonomy in the digital era, aiming to counter the current 99% USD-dominated stablecoin market and establish a native on‑chain euro as a pillar of Web3 payment infrastructure.

The initiative follows Tether’s exit from the EURt market due to MiCA regulations, clearing the field for traditional banks to enter with regulatory‑first, yield‑backed euro stablecoins amid rising ECB rates.

This signals a new phase in global digital currency competition, with MiCA acting as both a barrier for legacy issuers and a gateway for institutional adoption.