Bundesbank chief and ECB Governing Council member Joachim Nagel said a wholesale CBDC and euro‑pegged stablecoins could bolster the euro and help reduce global dollar dependence. He framed both tools as complementary in strengthening Europe’s monetary sovereignty.
European finance ministers will meet Feb. 16 to consider euro-denominated stablecoins and increased issuance of jointly backed EU debt as tools to reduce reliance on the U.S. dollar, the European Commission says. The proposals signal a coordinated approach to strengthen the euro in global markets.
Spanish banking giant BBVA, which holds about $800 billion in assets, is the 12th institution to join Amsterdam-based Qivalis as it prepares a euro-pegged stablecoin slated for launch later this year. The move signals growing institutional backing for a euro alternative to dollar-linked tokens.
Nordic exchange Safello has launched MiCA-authorized crypto services in Finland, enabling euro payments, trading, and custody for Finnish customers. The regulated rollout leverages the EU license to provide on/off ramps and custodial solutions across borders.
BNP Paribas is among ten European banks that formed Qivalis in the Netherlands to issue a euro-backed stablecoin, aiming to deliver a regulated digital euro payment solution.
Ten European banks, including ING and UniCredit, have set up an Amsterdam company to issue a euro-pegged stablecoin intended to challenge U.S. dominance in digital payments. The initiative signals a coordinated push by incumbent banks to reclaim payment rails and accelerate euro-based digital transactions.
Aave Labs has obtained MiCA authorization in Ireland and rolled out Push, a fee-free euro-to-crypto bridge across the EEA. Push enables euro conversions into cryptocurrencies including Aave's GHO stablecoin, aiming to cut reliance on centralized exchanges.