Originally reported by Deep Tide TechFlow on November 10, 2026, at 08:15 (UTC+8). According to a Ripple announcement cited in the report, 37 financial institutions from 15 European countries had joined Qivalis, a euro stablecoin project established by a consortium of European banks. The consortium aims to issue a stablecoin that complies with the EU’s Markets in Crypto-Assets Regulation (MiCA).
Qivalis had received an electronic money institution license from the Dutch central bank (DNB). It planned to issue the stablecoin in the following months, after regulators completed their review of its white paper. The planned token would be backed 1:1 by euro reserves and intended primarily for institutional payments, settlement and tokenized-asset transactions. The license did not mean the token had already been issued.
Ripple said consortium members BBVA and DZ BANK had adopted its Ripple Custody digital-asset custody service. Each member bank would still decide for itself how to custody and manage the Qivalis stablecoin in the future.
The report put the euro stablecoin market at approximately €50 million in early 2024 and approximately €450 million in January 2026. Those figures describe the broader market, not Qivalis tokens in circulation.