European banks tap Fireblocks for MiCA-compliant euro stablecoin

A 12-bank European consortium led by Qivalis is partnering with Fireblocks to develop a regulated euro stablecoin under MiCA, targeting launch in the second half of 2026.

A consortium of 12 European banks led by Qivalis has selected Fireblocks to provide infrastructure for a Markets in Crypto Assets Regulation (MiCA)-compliant euro stablecoin, according to a Tuesday release shared with Cointelegraph. 

The group says it is targeting a launch in the second half of 2026, subject to approval from the Dutch central bank, De Nederlandsche Bank, under the European Union’s MiCA regulatory framework.

Qivalis, a Netherlands-based venture backed by major banks including BBVA, BNP Paribas, ING and UniCredit, said in the release it plans to issue a fully regulated, 1:1-backed euro token structured as an electronic money institution under Dutch supervision. 

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