BBVA Joins EU Bank Alliance to Launch Regulated Euro Stablecoin

Spain's second-largest bank, BBVA, has announced its participation in the Qivalis alliance, which consists of several major EU banks. According to PANews, the alliance aims to introduce a regulated euro stablecoin to challenge the dominance of dollar stablecoins. Qivalis currently includes 12 leading EU banks, such as BNP Paribas, ING Group, and UniCredit. The alliance plans to apply for an electronic money institution license from the Dutch Central Bank under the EU's Markets in Crypto-Assets (MiCA) regulatory framework, with the goal of launching the euro stablecoin in the latter half of 2026.