Qivalis
pre-launchMiCA-era euro stablecoin backed by a European banking consortium
About
qivalis is an Amsterdam-based company formed by a consortium of major European banks to issue a MiCA-compliant euro-pegged stablecoin, targeting a launch in the second half of 2026. The shareholder banks include ING, UniCredit, BNP Paribas, Raiffeisen Bank International, SEB, Danske Bank, CaixaBank, KBC, Banca Sella and DekaBank. It is led by Jan-Oliver Sell, a former CEO of Coinbase's German operation, with ING's Floris Lugt as CFO and former NatWest chair Howard Davies heading the board.
Stablecoins
Key products
- Founded
- 2025
- HQ
- Amsterdam, Netherlands
- Stage
- Pre-launch (bank JV)
- Funding
- Backed by European banking consortium
Related companies
Al Maryah Community Bank (Mbank)
UAE digital bank powering the AE Coin stablecoin wallet
Al Maryah Community Bank, known as Mbank, is the UAE's first fully integrated digital bank serving consumers and SMEs. It developed and operates the AEC Wallet, the region's first wallet for the AED-denominated stablecoin AE Coin, and powers AE Coin's distribution and government-fee payment use cases. Mbank has signed partnerships with e& UAE, Network International and others to enable AE Coin payments across telecom, point-of-sale and e-commerce channels.
AllUnity
Issuer of EURAU, Germany's first MiCAR-compliant euro stablecoin
AllUnity is a joint venture established by DWS (Deutsche Bank's asset manager), Flow Traders and Galaxy that issues EURAU, Germany's first fully reserved, MiCAR-compliant euro stablecoin. AllUnity holds an E-Money Institution license from BaFin (granted July 2025) and issues EURAU 1:1 backed under a multi-bank reserve model, launching on Ethereum with Flow Traders as designated market maker and expansion to Solana.
Anchorage Digital
First federally chartered crypto bank; stablecoin issuer and custodian
Anchorage Digital is the only federally chartered US crypto bank, providing qualified custody plus turnkey, federally regulated infrastructure for minting, redeeming and managing stablecoin issuance. It issues USDtb (with Ethena, reserves in BlackRock's BUIDL), acquired USDM issuer Mountain Protocol, and serves as a regulated issuance partner for stablecoin programs.
Anchorpoint
HKD-backed stablecoin JV of Standard Chartered, Animoca and HKT
Anchorpoint Financial Limited is a joint venture established by Standard Chartered Bank (Hong Kong), Animoca Brands and HKT to issue a regulated Hong Kong dollar-backed stablecoin, HKDAP (HKD At Par). The venture was granted a stablecoin issuer licence by the Hong Kong Monetary Authority under the Stablecoins Ordinance, combining Standard Chartered's banking infrastructure, Animoca's Web3 expertise and HKT's mobile wallet reach across payments, finance and cross-border use cases.
Banking Circle
Issuer of EURI
Banking Circle, a Luxembourg-based bank supervised by the CSSF, issues EURI, a MiCA-compliant euro stablecoin, integrating it with its cross-border banking and payments infrastructure for financial institutions.
BitGo
Qualified custodian and digital asset infrastructure
BitGo is a pioneering institutional custodian with a long Bitcoin custody track record, operating OCC and state trust charters. It provides multisig and MPC custody, off-exchange settlement (Go Network), wallet infrastructure and stablecoin issuance (USDS via World Liberty / WBTC custody). BitGo completed the first crypto custodian IPO in January 2026.