Overview
- Qivalis is in advanced talks with crypto exchanges, market makers and liquidity providers to secure day-one listings and depth, with Spain’s Bit2Me confirming discussions with a member bank.
- The stablecoin is designed for 1:1 convertibility into euros, holding at least 40% of reserves in bank deposits and the rest in short-term euro-area sovereign bonds with regulated custodians and 24/7 redemption.
- Twelve participating lenders include BBVA, CaixaBank, BNP Paribas, DekaBank, DZ BANK, UniCredit, Banca Sella, ING, KBC, Danske Bank, SEB and Raiffeisen Bank International.
- The rollout is planned to start on Ethereum before expanding to Polygon and Base, using a permissioned layer and exploring zero-knowledge proofs to meet AML, KYC and banking secrecy requirements.
- Member banks plan to distribute the token to corporate and retail clients for on-chain payments, tokenization and cross-border settlement as a euro alternative to dominant dollar stablecoins.