🚨 JUST IN 💥💥🔥🔥 Major European banks have formed a consortium called Qivalis to launch a euro-pegged stablecoin, aiming to counter U.S. dollar dominance in digital payments.

The token is expected to launch in H2 2026, pending regulatory approval, with former Coinbase Germany CEO Jan-Oliver Sell as CEO and ex-NatWest chair Howard Davies as chair.

The stablecoin will initially target crypto trading and payments, as regulators and the ECB weigh concerns over private stablecoins’ impact on banks and monetary policy.