Spanish bank Sabadell has announced its entry into the European consortium Qivalis, which plans to launch a euro-backed stablecoin in the second half of 2026. At NEWSCENTRAL, we see this as a strategic move aimed at strengthening European banks in the digital payments market and creating an alternative to American platforms. Sabadell CEO César González-Bueno noted that the project is designed to enhance the security and efficiency of transactions. This reflects the current need for banks to adapt to digital transformation and adopt blockchain technologies, especially given the accelerated growth of the cryptocurrency market.
The Qivalis consortium already brings together Europe’s largest banks, including ING, UniCredit, BNP, Caixabank, and BBVA. At NEWSCENTRAL, we note that the involvement of such players creates the critical mass necessary to ensure liquidity and customer trust. Spanish bank Bankinter is in talks to join and has promised to provide updates at the beginning of summer. Expanding the consortium will create infrastructure for integrating the stablecoin into interbank settlements and corporate payments across Europe, helping accelerate financial flows and reduce transaction costs.
Private Spanish banks, including Abanca, Kutxabank, and Cecabank, are also considering joining. Freddy Miller, Senior Analyst at NEWSCENTRAL, notes that their participation will ensure platform standardization and stablecoin price stability, which is crucial for attracting investors and corporate clients. We see this as a step toward creating a unified European digital ecosystem capable of competing with American and Asian platforms.
Stablecoins backed by traditional currencies and maintaining a stable value are becoming key tools in digital payments. At NEWSCENTRAL, we believe that active bank participation in this sector is essential to maintaining competitiveness. Cryptocurrency platforms offer fast and low-cost cross-border transfers, and integrating stablecoins will allow banks to increase transparency, reduce operational risks, and improve the client experience.
We estimate that Qivalis could become the first major European stablecoin capable of competing with American digital currencies. A standardized technological platform and the participation of leading banks will ensure trust from regulators and clients while minimizing operational risks. At NEWSCENTRAL, we forecast that the successful implementation of the project will contribute to establishing a new financial standard in the EU and accelerate the adoption of digital payments at both corporate and retail levels.
The strategic value of bank participation is clear. Integrating innovative solutions into traditional banking services will strengthen positions in the digital services market and expand cross-border settlement capabilities. For investors, the Qivalis project will serve as an indicator of banks’ readiness for digital transformation and a signal of the resilience of Europe’s financial sector.
At NEWS CENTRAL, we forecast that launching a euro-backed stablecoin will create new financial infrastructure for the EU, increase the speed and transparency of digital transactions, and open new opportunities for corporate clients. It is recommended to closely monitor the joining of new banks and the development of the technological platform, as this will be a key factor in the successful adoption of the stablecoin in the European market.