With the addition of Germany’s DZ Bank, the Qivalis stablecoin consortium now has 11 European banks as members. In December Qivalis incorporated in the Netherlands and is pursuing an electronic money issuer license from the Dutch National Bank (DNB) in order to issue a MiCA-compliant stablecoin in the second half of 2026.
At the launch, Qivalis CEO Jan-Oliver Sell told Ledger Insights that at this early stage it is still open to adding additional banks, but will be more selective than at later stages. “Each new member brings unique expertise and substantially expands our reach across the European financial ecosystem, reinforcing our position as the leading bank- backed stablecoin initiative in Europe,” said Sell in a statement today. The addition of DZ Bank, one of Germany’s largest banking groups with established digital asset operations, strengthens the consortium’s credentials.
DZ Bank is the central institution of the Volksbanken Raiffeisenbanken cooperative financial network. It launched DLT promissory note pilots back in 2019, digital asset custody in 2023 and was amongst the first to launch crypto for retail clients after commencing pilots in 2024. Union Investment, one of the earliest asset managers to lean into digital assets, is part of the DZ Bank group.
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