Qivalis selects Fireblocks as infrastructure provider
22 April 2026 Europe
Image: Who_is_Danny/stock.adobe.com
Qivalis — a joint venture of 12 European banks developing a euro-backed stablecoin — has selected Fireblocks as the infrastructure provider for its EU Markets in Crypto-Assets Regulation (MiCAR)-compliant, euro-pegged stablecoin.
Qivalis will leverage Fireblocks’ end-to-end platform, which includes tokenisation and treasury management capabilities, to enable secure issuance, distribution, and lifecycle management of the stablecoin.
The stablecoin is scheduled to launch in the second half of 2026, supported by Banca Sell, BBVA, BNP Paribas, CaixaBank, Danske Bank, DekaBank, DZ BANK, ING, KBC, Raiffeisen Bank International, SEB, and UniCredit.
According to Qivalis, the offering aims to challenge US dollar dominance in the stablecoin market, providing institutional workflows with a euro alternative, and is designed to become a trusted European payment standard.
The launch is subject to regulatory authorisation by De Nederlandsche Bank through the Amsterdam-based Qivalis, to ensure compliance with MiCAR.
Speaking on the initiative, Michael Shaulov, co-founder and CEO of Fireblocks, says: “Qivalis demonstrates how major financial institutions can work together to plan a compliant euro-backed stablecoin at scale — with production-ready infrastructure that will meet MiCAR requirements, handle institutional volumes, and integrate seamlessly with existing banking systems.”
Jan Sell, CEO at Qivalis, adds: “Europe needs a regulated euro-backed stablecoin option backed by trusted financial institutions.
“Fireblocks' platform gives us the security, compliance controls, and operational infrastructure to deliver exactly that — enabling our member banks to offer clients a true European alternative for digital cross-border settlement.”
Qivalis will leverage Fireblocks’ end-to-end platform, which includes tokenisation and treasury management capabilities, to enable secure issuance, distribution, and lifecycle management of the stablecoin.
The stablecoin is scheduled to launch in the second half of 2026, supported by Banca Sell, BBVA, BNP Paribas, CaixaBank, Danske Bank, DekaBank, DZ BANK, ING, KBC, Raiffeisen Bank International, SEB, and UniCredit.
According to Qivalis, the offering aims to challenge US dollar dominance in the stablecoin market, providing institutional workflows with a euro alternative, and is designed to become a trusted European payment standard.
The launch is subject to regulatory authorisation by De Nederlandsche Bank through the Amsterdam-based Qivalis, to ensure compliance with MiCAR.
Speaking on the initiative, Michael Shaulov, co-founder and CEO of Fireblocks, says: “Qivalis demonstrates how major financial institutions can work together to plan a compliant euro-backed stablecoin at scale — with production-ready infrastructure that will meet MiCAR requirements, handle institutional volumes, and integrate seamlessly with existing banking systems.”
Jan Sell, CEO at Qivalis, adds: “Europe needs a regulated euro-backed stablecoin option backed by trusted financial institutions.
“Fireblocks' platform gives us the security, compliance controls, and operational infrastructure to deliver exactly that — enabling our member banks to offer clients a true European alternative for digital cross-border settlement.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one digital assets news source this year, make sure it is your free subscription to The Digital Assets Edge
100% ON RETURNS If you invest in only one digital assets news source this year, make sure it is your free subscription to The Digital Assets Edge
