Svmuu News: The Qivalis consortium, comprising 12 European banks, is moving forward with plans for a euro-pegged stablecoin, with the goal of launching it commercially in the second half of 2026. The consortium members include CaixaBank, BNP Paribas, ING, UniCredit, BBVA, Danske Bank, DZ Bank, SEB, KBC, Raiffeisen Bank International, DekaBank, and Banca Sella. The token will be pegged 1:1 to the euro, with at least 40% of its reserves held as bank deposits and the remainder invested in highly rated short-term eurozone government bonds. Jan Sell, CEO of Qivalis, stated that the project aims to provide the EU with a regulated domestic alternative to counter the dominance of U.S. dollar-pegged stablecoins and to facilitate global use cases such as cross-border business payments. The consortium is currently in discussions with cryptocurrency exchanges, market makers, and liquidity providers to ensure the token is tradable on its launch day.