Qivalis

What Qivalis does

Qivalis B.V. is an Amsterdam-based fintech consortium developing a MiCA-compliant, euro-pegged stablecoin for institutional cross-border payments and settlements. Founded in late 2025, the consortium has grown from 10 founding European banks to 37 member institutions across 15 countries, including ING, UniCredit, BNP Paribas, BBVA, CaixaBank, Banca Sella, Danske Bank, DekaBank, KBC, Raiffeisen Bank International, SEB, ABN AMRO, Rabobank, Nordea, and Intesa Sanpaolo. The company is applying for an Electronic Money Institution license from the Dutch Central Bank (DNB), with target launch in H2 2026.

The core product is a 1:1 euro-backed stablecoin with at least 40% reserves in bank deposits and the remainder in high-rated short-term eurozone government bonds, held by regulated custodians. Technology infrastructure is provided by Fireblocks (tokenization, wallet, and custody), with Chainlink's decentralized oracle network enabling atomic Payment-versus-Payment settlement for FX markets. The platform integrates ISO 20022 messaging standards and SWIFT infrastructure for cross-border connectivity, and through Project Pangea extends into a shared settlement layer with 10+ South Korean banks for the $150 billion Europe-Korea trade corridor. The smart contract architecture is described as verified with security measures, though no token has been issued yet.

Qivalis's business model centers on transaction fees from cross-border B2B payments, tokenized asset settlement, treasury management, and supply chain finance, with revenue expected to begin after stablecoin launch in H2 2026. Distribution is entirely channel-based: the 37 consortium member banks act as primary distributors to their combined corporate and institutional client bases across Europe, with secondary distribution pursued through crypto exchanges and liquidity providers. Pricing has not been publicly disclosed; the company is pre-revenue and has not yet issued any tokens.

Name

Qivalis

Legal name

Qivalis B.V.

Website

https://qivalis.eu

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

11–50 employees

Short description

Qivalis B.V. is an Amsterdam-based consortium of 37 European banks developing a MiCA-compliant, euro-pegged stablecoin for institutional cross-border B2B payments, FX settlement, and tokenized assets, with target launch in H2 2026.

Ownership category

akta.pro rank

Product category

Stablecoin Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Stablecoin Issuers (Fiat-Backed) (FSADADAA)

akta.pro secondary industries

Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE)

Keywords

• Euro stablecoin issuance
• Cross-border payment infrastructure
• Regulated digital assets
• Blockchain settlement rails
• Bank consortium services

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Stablecoin Transaction Fees: Revenue generated from transaction fees on cross-border payments and settlements using the euro stablecoin for B2B payments and global trade settlement.
2. Digital Asset Settlement Services: Revenue from enabling settlement of tokenized assets and programmable payments across the stablecoin infrastructure.
3. Treasury Management Services: Enterprise applications targeting treasury management and supply chain finance for institutional clients.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels3 records

Core offering

Qivalis is developing a MiCA-compliant, 1:1 euro-pegged stablecoin as its core product, designed for cross-border B2B payments, FX settlement, and tokenized asset infrastructure. The stablecoin is backed by reserves in euros and high-quality liquid assets held by regulated custodians, supervised by the Dutch Central Bank under an applied Electronic Money Institution license, and distributed through a consortium of 37 European banks.

Product overview

Qivalis operates as a consortium-led euro stablecoin initiative powered by Europe's leading banks. The core product is a MiCA-compliant, 1:1-backed euro-pegged stablecoin designed to enable secure digital finance across payments, settlements, and digital assets. The consortium has grown from an initial 10 founding banks in December 2025 to 37+ banks across 15 European countries, with Fireblocks providing tokenization infrastructure. The stablecoin is designed for full reserve backing with at least 40% in bank deposits and remainder in high-quality short-term eurozone government bonds, offering 24/7 redemption capabilities for cross-border B2B payments and tokenized asset settlement.

Differentiator

Problem solved

Functional benefit

Products and services

• Qivalis Euro Stablecoin A 1:1 euro-pegged stablecoin fully backed by reserves held in euros and high-quality liquid assets, designed as a cornerstone of future digital asset infrastructure enabling payments, settlement, and tokenized assets. The stablecoin is MiCA-compliant, supervised by the Dutch Central Bank, and offers 24/7 redemption capabilities for cross-border B2B payments, FX settlement, treasury management, and tokenized asset settlement, distributed through a consortium of 37 European banks.

Quantifiable outcome

• S&P projects euro stablecoin issuance could reach $1.3 trillion by 2030
• +3 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• FireblockscoreTechnology or IntegrationFireblocks provides tokenization technology, wallet infrastructure, and custody services for Qivalis's euro stablecoin initiative under MiCAR regulatory framework. Selected as the infrastructure provider in March 2026.
• ChainlinkcoreStrategic or Co-development PartnerChainlink joined Project Pangea coalition with Qivalis and UniKA to enable near-real-time EUR-to-KRW FX settlement using regulated stablecoins. The decentralized oracle network provides Payment-versus-Payment mechanism for atomic stablecoin swaps.
• UniKA (Unified Korea Alliance)coreStrategic or Co-development PartnerUniKA is a Korean banking alliance coordinating Korean members including Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA alongside 10 additional commercial banks for cross-border FX settlement through Project Pangea.
• FairSquareLabcoreTechnology or IntegrationSouth Korean digital asset infrastructure company providing onchain FX settlement technology for Project Pangea's atomic Payment-versus-Payment swaps of compliant stablecoins.
• SWIFTsupportingTechnology or IntegrationProject Pangea utilizes existing Swift infrastructure alongside ISO 20022 messaging standards for cross-border payment connectivity.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Tether: Issuer of USDT, the largest stablecoin globally with ~$186B market cap. Comparable fiat-backed stablecoin product, though with materially different regulatory positioning.
• MakerDAO: Decentralized protocol issuing the DAI stablecoin. Comparable as a euro-pegged alternative (via sDAI or similar) competing for European DeFi and institutional use cases.
• Circle: Issuer of USDC, the second-largest regulated stablecoin globally. Comparable business model as a fiat-backed stablecoin issuer with strong regulatory positioning (US-focused) and MiCA compliance efforts in Europe.
• Société Générale-Forge (EURCV): Major European bank issuing a regulated euro stablecoin (EURCV) on public blockchains for institutional clients. Direct competitor in the regulated euro stablecoin space with established operations.
• Paxos: Regulated stablecoin issuer (USDP, PayPal USD) and tokenization infrastructure provider with strong regulatory positioning in US markets. Comparable in regulated stablecoin issuance and enterprise focus.
• Fnality International: Bank consortium-led regulated settlement stablecoin (initially focused on the pound) with similar multi-bank governance and wholesale payment focus. Closest comparable in business model and target use case.

Broad incumbents

• Stripe (Bridge acquisition): Major payments company that acquired Bridge to expand stablecoin infrastructure for merchants. Comparable as adjacent infrastructure enabling stablecoin-based payments and settlement.
• PayPal (PYUSD): Major fintech's regulated US dollar stablecoin issued by Paxos. Comparable as a regulated stablecoin, though distributed through retail/merchant channels rather than banking consortium.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/qivaliseu
• LinkedInlinkedin.com/company/qivalis

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors36 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Qivalis