TechFlame reports that the Qivalis consortium, composed of 12 European banks, is advancing a plan for a euro-pegged stablecoin, aiming for commercial launch 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 in bank deposits and the remainder invested in high-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 dollar-backed stablecoins, suitable for global scenarios 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 from its first day of issuance.