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- AIB joins Qivalis as 37 banks prepare a regulated euro stablecoin under MiCA rules.
- Qivalis plans a 2026 euro stablecoin launch backed by deposits and reserve assets.
- The project shows Europe’s banks moving deeper into tokenized finance infrastructure.
AIB has joined Qivalis, a European banking consortium building a regulated euro stablecoin. The move places the Irish lender inside a broader bank-led effort to develop blockchain payment and settlement infrastructure under the European Union’s digital asset rules across Europe.
According to an Irish Times report, Qivalis has 37 member banks. The increase came after 25 additional lenders joined the project this week.
The consortium was first launched in September 2025 by 12 major European banks. Its founding members included BNP Paribas, BBVA, CaixaBank, and ING.
Euro Stablecoin Plan Targets MiCA-Compliant Launch
The group plans to launch its euro stablecoin in the second half of 2026. AIB said the planned euro stablecoin will comply with the EU’s Markets in Crypto-Assets Regulation, known as MiCA.
MiCA created the bloc’s main rulebook for digital assets. The framework also sets standards for stablecoin issuers operating across European markets.
However, Qivalis aims to create a regulated token backed by bank deposits and other reserve assets. The project is designed to let financial institutions offer blockchain-based payments and settlement services within the banking system.
Geraldine Casey, Managing Director of Retail Banking at AIB, said the bank is investing in the consortium because Europe needs trusted and regulated payment innovation. The project provides AIB with an opportunity to learn, test, innovate, and collaborate with other leading banks in Europe,” she said.
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However, the new addition comes after Spanish lenders have been reported to discuss involvement in Qivalis. Those talks revealed a growing interest in European banks over payment systems that can enhance efficiency and lower their reliance on U.S.-dominated financial infrastructure.
Banks Test Stablecoins for Digital Settlement Systems
The euro stablecoin proposal is also indicative of a larger trend of competition in regulated digital finance. Stablecoin transfers, blockchain payment networks, and tokenized settlement systems are all being trialed by banks and governments.
Unlike other crypto assets like bitcoin and Ethereum, stablecoins are not volatile. Typically they are associated with fiat currencies or other more traditional assets to help stabilize their value.
Japan has also shifted toward regulated digital finance. Lawmakers have recently introduced an AI and on-chain finance strategy that prioritizes stablecoins and tokenized payments.
Major Japanese banks such as Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Bank, and Mizuho Bank were engaged in related discussion. The Japan Blockchain Foundation also announced plans to launch the EJPY stablecoin on Ethereum and Japan Open Chain.
In the United States, digital currency policy remains divided. Governor Henry McMaster signed S.163 into law, which prevents the state from participating in a Federal Reserve CBDC system and safeguards mining, staking, node operations, and self-hosted wallets.
The Qivalis project highlights a bigger bankside move towards tokenized finance infrastructure. It is set to launch its euro stablecoin under MiCA, which could be one of the largest bank-led euro stablecoin launches in Europe.
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