CaixaBank will launch its own 'stablecoin' in 2026 along with 9 other major European banks

CaixaBank and nine European financial giants presented Qivalis, a new entity under which they will develop a euro-denominated stablecoin, which will be regulated under MiCA in 2026.

In a move of continental scale, CaixaBank has joined forces with nine other major banking institutions to create Qivalis, a new entity tasked with issuing and managing a euro-denominated stablecoin that aims to redefine the digital payments landscape in the region. 

The official presentation of this new entity, held last week in Amsterdam, not only confirms the launch of the stable digital currency for the second half of 2026, but also sends a strong message about the intention of traditional banking to regain ground in an ecosystem dominated until now by technological players and currencies linked to the US dollar.

This consortium of banks represents one of the most robust financial alliances of the last decade in the field of digital assets. Alongside the Spanish entity led by Gonzalo Gortázar, it includes systemically important names such as ING, Deutsche Bank, UniCredit and the recent addition of the French giant BNP Paribas. 

The addition of this latest member brings the number of founding partners to ten and underscores the project's ambition to become the leading infrastructure for asset settlement on the blockchain. With this development, this group of banks aims to offer an institutional alternative that combines the agility of decentralized technology with the security of audited bank balance sheets.

Qivalis begins operations in the Netherlands 

The formal registration of Qivalis as a company in the Netherlands marks the transition from the experimental to the operational phase. The banks indicated that the choice of this jurisdiction was not accidental, as the company It will operate under the strict supervision of the National Bank of the Netherlands. and will apply for a license as an electronic money institution. This move seeks to align the stablecoin initiative with the MiCA regulationThe pioneering legal framework approved by the European Parliament, which provides legal certainty to issuers of crypto assets, has been the necessary catalyst for institutional banking to fully enter the cryptocurrency and blockchain technology sector. 

To lead this new entity, the consortium has opted for profiles that understand both the language of the code and that of prudential regulation. Jan-Oliver SellThe former general manager of Coinbase in Germany will take the reins as CEO of Qivalis, bringing a native vision of the crypto sector. 

He will assist in the financial management. Floris Lugt, former head of digital assets at ING, while supervision will fall to Howard DaviesA historic figure in British regulation and former chairman of the Financial Services Authority, this management team demonstrates that Qivalis is not an isolated innovation lab, but a financial structure designed to operate with the highest standards of compliance and risk management from its very first day.

In fact, Jan-Oliver Sell assured that its mission from this new entity will be “To offer a next-generation stablecoin, fully regulated and backed by euros 1:1 as the cornerstone of the future digital asset infrastructure, enabling innovation in payments, settlement and digital assets.” 

The new European stablecoin that will revolutionize digital payments

The creation of this stablecoin responds to a strategic need for Europe to maintain its autonomy in digital capital flows. 

Currently, the global stablecoin market is almost entirely dominated by dollar-pegged tokens, creating a technological and monetary dependence on foreign infrastructure. Qivalis aims to change this landscape by introducing a digital payment method that allows fast and cheap liquidations, eliminating the delays and high costs associated with traditional banking correspondence systems, especially in international transactions.

The blockchain technology on which Qivalis is based will enable functionalities that conventional fiat money cannot offer, such as programmable paymentsThis will allow companies to automate complex processes in their supply chains, executing payments only when certain digitally verifiable conditions are met. 

Furthermore, the digital currency will serve as a settlement asset for other digital securities, facilitating the buying and selling of tokenized bonds or shares in real time, operating 24 hours a day, seven days a week, without the typical time cuts of traditional stock markets.

An expanding open ecosystem

Although the founding core consists of ten entities, Qivalis's architecture has been designed with an open approach. Spokespeople for the new company have emphasized that the consortium remains receptive to the addition of more international banks, seeking to create a network effect that will increase the utility and liquidity of the new stablecoin. 

Unlike individual strategies such as those followed by other national competitors who develop their own closed tokens, CaixaBank and its partners are betting on interoperability and the creation of a shared market standard.

Spanish banks, with institutions like BBVA and Santander also exploring custody and trading services in various jurisdictions, demonstrate that the sector has overcome its initial skepticism towards digital assets. However, Qivalis' collaborative approach proposes a different business model, where competition shifts from infrastructure to the value-added services that each bank can build on this new digital highway, such as specialized wallets or automated corporate treasury solutions.

Europe redefines the financial game

Qivalis is poised to transform the European financial landscape with an approach that combines the stability of the euro, security backed by banking supervision, and the innovation of blockchain technology. 

While technical and regulatory teams are finalizing the last details for a launch expected in two years, the project sends a clear message: crypto assets are evolving and making a strong entry into institutional banking. 

For market experts, this move could mark the beginning of a new stage in which cryptocurrencies cease to be an exclusive resource of the speculative market and become a solid and reliable tool within the productive economy of the European continent.