European Banks Partner with Fireblocks for Euro Stablecoin Development

A consortium of 12 European banks has selected Fireblocks to build infrastructure for a euro-denominated stablecoin under the Markets in Crypto Assets Regulation.

The project, led by Qivalis, a Dutch organization backed by institutions such as BBVA and BNP Paribas, aims to create a fully regulated 1:1 euro token, licensed as an electronic money institution within the Netherlands.

Fireblocks will provide tokenization, custody, wallets, ID verification, and sanctions screening tools to ensure secure institutional transaction rails. The initiative is expected to enhance interoperability between European digital banks.