Qivalis expanded its euro stablecoin consortium to 37 European banks after adding 25 new lenders, extending backing for a planned euro-denominated digital token as the group seeks to build out its regulated payments infrastructure in the euro area.
Among the new entrants are ABN Amro, Intesa Sanpaolo, Rabobank, and Luxembourg state-owned Spuerkeess, alongside other European lenders spanning France, Germany, the Nordics, and Southern Europe. The expanded membership strengthens the group’s effort to establish a bank-supported onchain euro settlement network, Qivalis said in an X post on Wednesday.
"We are not just building a euro stablecoin; we are laying the European financial rails of the future," the consortium wrote in the post.
Qivalis launched in December 2025 with 12 founding members, including BNP Paribas, ING, UniCredit, CaixaBank, Danske Bank, DekaBank, KBC Bank, Raiffeisen Bank International, SEB, and Banca Sella.
The consortium says it is domiciled in Amsterdam and is pursuing authorization from De Nederlandsche Bank, the Dutch central bank, to operate as an electronic money institution.
