Ripple partner BBVA Joins European Banks to Launch Euro Stablecoin AllinCrypto February 5, 2026
BBVA has joined a group of eleven major European banks to form Qivalis, a new joint venture aimed at launching a euro-pegged stablecoin under the EU’s competitive Markets in Crypto-Assets (MiCA) framework.
Based in Amsterdam, the firm, which is still pending an electronic money institution order, Qivalis is designed to provide a shared, regulated digital euro instrument that supports faster payments and on-chain settlements of tokenized assets.
With a planned commercial launch sometime in 2026, there’s momentum among European banks to modernize payment flows as the European Central Bank eyes a Digital Euro by 2029. There is also Ripple’s partnership with BBVA to get through.
How Ripple Could Leverage the Qivalis Stablecoin
The consortium of banks, including BNP Paribas, ING, UniCredit, and others, highlights a coordinated industry effort to create common standards instead of fragmented solutions.
By creating and integrating a euro stablecoin into existing payment rails, Qivalis aims to reduce cross-border friction, lower payment costs, and enable fast settlements between digital assets and fiat euros within a compliant environment.
BBVA’s existing partnership with Ripple adds a strategic angle, whereby the regulated euro stablecoin issued by Qivalis could potentially be integrated into Ripple Treasury as a collateral and settlement asset for institutional clients, similar to how Ripple uses RLUSD on the treasury platform.
Such a stablecoin could be used for collateral, to settle obligations, or facilitate liquidity across tokenized assets and payment flows.
For Ripple, access to a MiCA-compliant euro stablecoin backed by major European banks would strengthen its institutional offering in the EU, allowing clients to move seamlessly between tokenized assets and euro-backed liquidity.
The initiative of Qivalis shows how European banks and institions are eager to adopt tokenized assets and use them wihtin mainstream services with traditional financial firms.
Banks are set to use regulated stablecoins as groundwork infrastructure for a future where Europe’s finance is digital and competitive to Trump’s vision of the US as a crypto capital of the world. Rather than displacing banks, blockchain tech is becoming a utility that can reshape how value moves across payment rails.
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