Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.
37-bank consortium across 15 countries (May 20 expansion added ~20 members incl. ABN Amro, Intesa Sanpaolo, Rabobank, Nordea, Raiffeisen Bank International, up from 17); Fireblocks selected as core infrastructure partner Apr 21; French Finance Minister Lescure publicly endorses project (Apr 17); EMI license application with De Nederlandsche Bank pending — Qivalis says it will launch immediately on approval; ERC-20F standard with built-in governance/AML/KYC; launching on Ethereum (primary), Polygon, Base with permissioned KYC layer; ticker not yet published by Qivalis; H2 2026 on track
Qivalis Euro (QEUR) Pre-launch Stablecoin Tracker
QEUR
At a Glance
- Backing
- Real-World Asset Backed
- Governance
- Centralized (CeFi)
- Peg Currency
- Euro
- Jurisdiction
- Netherlands
Launch Timeline
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Consortium expands to 37 banks across 15 countries
Roughly 20 additional institutions join — including ABN Amro, Intesa Sanpaolo, Rabobank, Nordea, and Raiffeisen Bank International — up from 17 members.
SourceSecond wave of banks join: Sabadell, Bankinter, Abanca, Kutxabank, Cecabank — consortium now 17 members
Five Spanish and European banks expand the consortium beyond the original 12 founding members.
SourceFireblocks selected as core infrastructure partner for tokenization and treasury management
ERC-20F standard with built-in governance controls, AML/KYC, sanctions screening, and fraud monitoring; multi-institution architecture supporting granular permission controls across member banks.
SourceFrench Finance Minister Lescure publicly endorses Qivalis and euro stablecoins
At a Paris crypto conference, Lescure called current euro stablecoin volumes 'not satisfactory' and urged EU banks to accelerate tokenized deposits — a sharp reversal from predecessor Bruno Le Maire's stance that private stablecoins had 'no place on European soil'.
SourceCEO warns of 'digital dollarization' without euro stablecoin infrastructure
Jan-Oliver Sell highlights euro's 0.2% on-chain share; EMI license described as in final stages; positions Qivalis as euro infrastructure layer, not just a token.
SourceAdvanced talks with crypto exchanges for day-one liquidity
Qivalis in discussions with exchanges, market makers, and liquidity providers for regulated platform listings.
SourceBNP Paribas joins consortium, bringing total to 12 European banks
ING, UniCredit, BNP Paribas, CaixaBank, BBVA, Banca Sella, Danske Bank, DekaBank, DZ BANK, KBC, Raiffeisen Bank International, and SEB.
SourceThirty-Seven Banks, One Euro
QEUR is a pre-launch MiCA-oriented euro stablecoin from a banking consortium that ballooned to 37 institutions across 15 countries by May 2026 — up from 12 a few months earlier — targeting H2 2026 issuance under a Dutch EMI license. Qivalis is the European banking establishment's answer to USDC and Tether: a MiCA-compliant euro stablecoin now backed by names like BNP Paribas, ING, UniCredit, BBVA, ABN Amro, Intesa Sanpaolo, Rabobank, and Nordea. The reserve design — 30-40% bank deposits, the remainder in short-term eurozone government bonds — reads like a with a blockchain address. The chain question is settled: Ethereum mainnet first (ERC-20F with a permissioned KYC layer), then Polygon and Base — only pre-verified participants can hold or transfer the token, the consortium's compromise between public-chain liquidity and institutional control. CEO Jan-Oliver Sell (ex-Coinbase Germany) is lining up exchange partnerships, and the EMI license application sits with De Nederlandsche Bank, filed but not granted; Qivalis says it will launch the moment approval lands. The central tension is unchanged and arguably sharper at 37 members: whether dozens of banks that compete fiercely everywhere else can cooperate long enough to ship before Circle's EURC and SocGen's EURCV finish eating the MiCA-compliant euro market. The ticker itself isn't even public yet. sits across consortium banks and 1:1 rights remain pre-launch commitments.
Updated
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CaixaBank and Qivalis partner to launch a euro stablecoin
Spanish banking giant CaixaBank partners with Qivalis to develop a fully regulated euro stablecoin under MiCA, targeting crypto exchanges and DeFi protocols.
BNP Paribas joins European consortium to launch euro-backed stablecoin
12 European banks — including ING, UniCredit, BNP Paribas, CaixaBank, and BBVA — unite under Qivalis for a MiCA-compliant euro stablecoin targeting H2 2026.
France's finance minister calls for more euro stablecoins, expresses Qivalis support
Roland Lescure reverses Paris's prior hostility to private stablecoins, specifically backing Qivalis and urging EU banks to accelerate tokenized deposits.
European banks back Amsterdam-based euro stablecoin project Qivalis
The Qivalis consortium expands to 37 banks across 15 countries as it awaits a Dutch EMI license to launch its MiCA-compliant euro stablecoin in H2 2026.
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