France’s finance minister Roland Lescure has expressed support for a euro-pegged stablecoin initiative aimed at competing with dominant US dollar-backed digital assets.
The project, known as Qivalis, is being developed by major European banks including ING and UniCredit and is expected to launch in 2026.
Designed to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulation, the stablecoin seeks to strengthen Europe’s position in the global digital finance ecosystem.
By offering a regulated and regionally backed alternative, policymakers hope to reduce reliance on dollar-denominated stablecoins.
The initiative reflects broader efforts within the EU to assert financial sovereignty and promote innovation in blockchain-based financial services.
Source: X.com
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