Core Insights - A consortium of ten major European banks is set to launch a euro-backed stablecoin by mid-2026 to challenge U.S. dollar dominance in the global stablecoin market, which exceeds $300 billion [1][2] - The initiative is a response to European regulators' concerns over the reliance on dollar-denominated tokens, which constitute 99.58% of the market, while euro-pegged alternatives are minimal, with only $649 million in circulation [2] Group 1: Consortium Formation and Leadership - The consortium includes BNP Paribas, ING, UniCredit, CaixaBank, Danske Bank, SEB, Raiffeisen Bank International, Banca Sella, KBC, and DekaBank, and operates through a newly established entity named Qivalis based in Amsterdam [1] - Qivalis has appointed Jan-Oliver Sell as CEO and Floris Lugt as CFO, with Sir Howard Davies as the chair of the Supervisory Board, all pending regulatory approval [3] Group 2: Regulatory and Strategic Implications - The consortium has applied for an electronic money institution license with the Dutch Central Bank, marking a significant step towards regulatory compliance and commercial launch [4] - The initiative aims to enhance monetary autonomy in the digital age and is open to additional banks joining to foster broader industry participation [5] Group 3: Systemic Risks and Market Concerns - The initiative follows warnings from European financial authorities regarding systemic risks associated with dollar-backed stablecoins, with concerns that rapid growth could impact European Central Bank monetary policy [6] - Dutch central bank governor Olaf Sleijpen highlighted that if U.S. stablecoins continue to grow at their current pace, they may become systemically relevant, creating uncertainty for central bank responses [7]

Bitfinex-backed Layer 1 Stable unveils tokenomics ahead of mainnet deployment https://t.co/2ujRYO8RtS ...

📰 According to rising topics across social media, the top stories in crypto are:📊 Vanguard Embraces Ethereum: Vanguard, managing $11 trillion, reverses its crypto stance by allowing 50M+ clients to trade spot Bitcoin, Ethereum, XRP, and Solana ETFs starting today. This move signals growing institutional acceptance and mainstream adoption of crypto assets. Ethereum prepares for its major Fusaka upgrade, boosting scalability and network performance. Meanwhile, stablecoin demand surges with Tether minting $1B ...

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qivalis consortium of 10 european banks with €4.5t in assets launching euro stablecoin h2 2026. bnp paribas, ing, unicredit serving 200m customers directly. circle's usdc faces first real competition from tradfi using crypto rails not fighting them. euro stablecoins capturing 25% of market proportional to gdp means $15b headwind for usdc growth. banks learned they can't kill crypto so they're building it ...

🚨⛓️ BREAKING: Annual stablecoin transfer volume surpasses $50 trillion.Led by Ethereum, Base, Tron, Solana, and Avalanche. https://t.co/OBaX5zjfAQ ...

The Q4 stablecoin transfer volume on @ethereum has already surpassed the volume in Q3, with still a month left of the quarter. https://t.co/Y6egFNLvpm ...

🚨👥 Monthly USDC senders on @ethereum reached an all-time high of 1.6 million.Stablecoin users 🤝 Ethereum https://t.co/M5aDjwb46V ...

RT Marino (@marinonchain)It’ll blow your mind how bullish the future for Solana really is 🤯Adoption has quietly gone parabolic - and that changes literally everything.Here’s why Solana is absolutely WINNING 🧵👇1️⃣ Solana Dominates✅ Tokenized treasuries👉 Ondo, Franklin Templeton, OpenEden, etc👉 $20B+ deployed on Solana👉 Real yield anchored on Solana✅ Top chain for stablecoin transfers👉 USDC, PYUSD, USDT👉 More daily settlement than all L2s combined👉 Higher stablecoin velocity✅ ETF inflows exploding👉 $476M+ sin ...

RT GG (@ggDecrypt)PlayStation Goes Crypto? Sony Stablecoin Could Be Used for Gaming Payments: Nikkei► https://t.co/QdGNGohD51 https://t.co/QdGNGohD51 ...