{"id":90141,"date":"2026-05-06T07:46:35","date_gmt":"2026-05-06T07:46:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=90141"},"modified":"2026-05-06T07:46:35","modified_gmt":"2026-05-06T07:46:35","slug":"spains-sabadell-to-join-qivalis-consortium-for-major-euro-stablecoin-push","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=90141","title":{"rendered":"Spain\u2019s Sabadell To Join Qivalis Consortium For Major Euro Stablecoin Push"},"content":{"rendered":"
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Spanish bank Sabadell is the latest to join a consortium of European banks seeking to launch a euro-pegged stablecoin to make transactions more efficient and increase the dominance of Europe\u2019s digital assets market.<\/p>\n

Sabadell Joins European Banking Consortium<\/h2>\n

On Tuesday, Spain\u2019s fourth-largest banking group by assets, Sabadell, announced it will join the Qivalis consortium as traditional financial institutions wrestle with the fast-growing stablecoin industry and broader crypto market adoption, Reuters reported<\/a>.<\/p>\n

The Qivalis consortium<\/a> was set up in Amsterdam in 2025 by several major European banks to develop and issue a Markets in Crypto Asset Regulation (MiCA) compliant, euro\u2011pegged stablecoin in the second half of 2026 to help counter the US dollar\u2019s dominance in digital payments.<\/p>\n

Sabadell\u2019s CEO, C\u00e9sar Gonz\u00e1lez-Bueno, said in a press conference that the Qivalis initiative \u201cis primarily designed \u2060to make transactions more efficient and secure,\u201d adding, \u201cIt is a \u200bEuropean project that we believe makes sense, and we will \u200bindeed be part of it.<\/p>\n

Notably, the project comprises a dozen European institutions, including ING, UniCredit, KBC, Danske Bank, and BNP Paribas. Last month, Spain\u2019s BBVA, the country\u2019s second-largest bank and one of the largest financial institutions globally, announced it had also joined the banking consortium.<\/p>\n

As reported<\/a> by Bitcoinist, the banking giant considers that collaboration is crucial to \u201ccreate common standards that support the evolution of the future banking model and deliver financial innovation to our clients in a consistent and practical way.\u201d<\/p>\n

Reuters noted that the growth of the digital assets industry has prompted traditional institutions to find uses for blockchain technology \u200bwithin their businesses. Therefore, more financial institutions are also considering joining the Qivalis project.<\/p>\n

A spokesperson for Spain\u2019s fifth-biggest lender by market value, Bankinter, \u200bsaid on Tuesday it was in talks \u200cwith \u2060the consortium and would update in early summer. In addition, non-listed Spanish entities, including Abanca, Kutxabank, and Cecabank, are reportedly considering joining Qivalis, sources familiar with the matter told Reuters.<\/p>\n

Europe\u2019s Push For Stablecoin Dominance<\/h2>\n

The European bank consortium\u2019s initiative comes as local authorities and industry advocates also push to grow the bloc\u2019s stablecoin market to weaken US dominance over its payment systems.<\/p>\n

At the Paris Blockchain Week in April, France\u2019s Finance Minister Roland Lescure encouraged<\/a> European banks to explore tokenized deposits and called for the development of more Euro-pegged stablecoins, highlighting that their volume compared to US dollar rivals was \u201cnot satisfactory.\u201d<\/p>\n

For context, euro-pegged stablecoins account for less than 1% of global stablecoin volume, which is significantly lower than the level that would be expected based on the euro\u2019s broader influence in global markets.<\/p>\n

Blockchain for Europe, an organization that represents international Blockchain industry players in the European Union (EU), affirmed<\/a> that the MiCA framework has made euro-pegged stablecoins less competitive than their US-denominated counterparts, despite making them safe.<\/p>\n

The group noted that skepticism prevails among European policymakers regarding the trajectory of euro electronic money tokens (EMTs) and that it has placed Europe on the \u201cdownward-sloping part of the regulatory Laffer curve.\u201d<\/p>\n

To address this, the organization suggested multiple reforms to MiCA to improve the regulated European stablecoin market and maximize its positive impact on the bloc\u2019s industry, citizens, and businesses.<\/p>\n

\"stablecoin,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Spanish bank Sabadell is the latest to join a consortium of European banks seeking to launch a euro-pegged stablecoin to make transactions more efficient and increase the dominance of Europe\u2019s digital assets market. Sabadell Joins European Banking Consortium On Tuesday, Spain\u2019s fourth-largest banking group by assets, Sabadell, announced it will join the Qivalis consortium as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-90141","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/90141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=90141"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/90141\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=90141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=90141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=90141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}