BBVA Backs Qivalis Consortium to Launch MiCA-Regulated Euro Stablecoin by 2026

Spain's BBVA, the country's second-largest bank by assets, has joined the Qivalis consortium of around a dozen EU lenders to develop a euro-denominated stablecoin under the MiCA framework. The project aims to offer a bank-backed digital euro alternative to dollar-pegged tokens such as USDT and USDC, with the group targeting a launch in the second half of 2026, subject to regulatory approval.