EUR (EUR)

The euro is one of the world’s most important currencies, yet its role in stablecoins is almost nonexistent. @qivaliseu, a new euro stablecoin founded by a consortium of European banks, makes me think this can change. It starts with the one thing other euro stablecoins lacked, which is real distribution. Here is why I am optimistic, and what still has to get built 👇🏻

⚡️ In early 2022, before #Markets in Crypto-Assets Regulation, the euro #stablecoin market cap peaked at $721M. By April 2023, when the European Parliament approved MiCA, the market had fallen 73%. Since MiCA took effect in December 2024, #euro stablecoins have reclaimed their all-time highs.

🚨🇪🇺 MORE THAN 30 BANKS PREPARE A EURO STABLECOIN 19 new European banks will join the Qivalis consortium to launch a euro‑denominated stablecoin in the second half of 2026. Among them: Crédit Mutuel, Groupe BPCE, ABN AMRO, Nordea, Erste Group, as well as several Spanish players such as Bankinter and Banco Sabadell. With these new entrants, the project would bring together over 30 banks, including BNP Paribas, UniCredit, ING, and BBVA. The goal is to create a common infrastructure rather than fragmented solutions, with broad distribution across Europe. Qivalis is still awaiting an electronic money institution licence from the Dutch central bank.

⚡ Flash News 🏦 Fireblocks drives European stablecoin Fireblocks will provide the infrastructure for a Euro-backed stablecoin backed by 12 European banks, in a MiCA-aligned project that aims to compete with dollar dominance in digital payments.

According to research data from Dune and Visa, the total supply of non‑USD stablecoins has reached $1.2 billion, with monthly on‑chain transfer volume around $10 billion, and the number of holding addresses has increased from about 40 k at the beginning of 2023 to the current 1.2 million. Among them, euro‑stablecoins have shown the most significant growth under the MiCA regulatory framework, with monthly transaction volume rising year‑over‑year from $383 million to $3.83 billion. In addition, local‑currency stablecoins such as the Japanese yen, Singapore dollar, and Brazilian real continue to expand, indicating that the stablecoin ecosystem is gradually shifting from a USD‑dominated model to a multi‑currency on‑chain settlement system. (Forbes) https://t.co/1j6oqwoF2v

https://t.co/2CbvtWG4s4

.@SocieteGenerale-FORGE's EUR CoinVertible is now live on Stellar. Retail users and businesses can now access a secure, transparent, and scalable digital euro stablecoin on the Stellar network. https://t.co/4ZXaskFnwg