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CryptoWorld News reports that custody service provider Fireblocks will be responsible for issuing and distributing the Qivalis consortium’s euro stablecoin. The project is expected to launch in the second half of 2026, will be regulated by the Dutch Central Bank, and will comply with the EU’s Markets in Crypto-Assets Regulation (MiCAR). Qivalis members include 12 European banks, such as BBVA, BNP Paribas, ING, and UniCredit. The report says that the current stablecoin market is approximately $305 billion, of which about 99% is made up of dollar stablecoins, with euro stablecoins totaling about $650 million. Qivalis plans to enhance the use of euro stablecoins in institutional scenarios through compliant products.