European Banks Advance Regulated Stablecoin Project with Nordea Joining Qivalis Consortium

European Banks Advance Regulated Stablecoin Project with Nordea Joining Qivalis Consortium

(IN BRIEF) Nordea has joined Qivalis, a consortium of European banks developing a regulated euro-denominated stablecoin designed to support digital payments and blockchain-based financial services. The initiative aims to strengthen European financial infrastructure and autonomy while operating under the EU’s MiCAR regulatory framework. The stablecoin is expected to be launched in the second half of 2026.

(PRESS RELEASE) HELSINKI, 20-May-2026 — /EuropaWire/ — Nordea (HEL: NDA-FI), a leading Nordic universal bank, has joined Qivalis, a consortium of European banks working to establish a regulated euro-denominated stablecoin aimed at supporting the future development of digital payments and blockchain-based financial infrastructure across Europe.

The initiative focuses on creating a trusted digital payment instrument designed to operate within the regulated European financial ecosystem while leveraging blockchain technology to improve payment efficiency, settlement processes and digital asset services.

By joining the consortium, Nordea is strengthening its involvement in efforts to enhance European financial autonomy and support the development of bank-led financial market infrastructure capable of supporting cross-border transactions and future digital finance applications.

Ian Smith, Group Chief Financial Officer at Nordea, said the bank views regulated and reliable stablecoins as a potentially important component of the future financial system. He noted that participation in the consortium will allow Nordea to collaborate with other major banking institutions to help shape secure and stable digital payment technologies that could eventually expand service offerings for customers.

Qivalis is owned and governed by participating banks and intends to operate as an electronic money institution. The stablecoin project will be regulated under the European Union’s Markets in Crypto-Assets Regulation, commonly known as MiCAR, which was introduced to establish clearer rules and stronger safeguards for cryptocurrency-related activities across the EU.

The consortium expects the stablecoin to be first issued during the second half of 2026.

The project reflects a broader movement among European financial institutions to develop regulated digital payment solutions that can compete with global private-sector digital currencies and emerging payment technologies while remaining aligned with European regulatory and monetary frameworks.

Nordea stated that participation in initiatives such as Qivalis supports its broader strategy of combining scale, technology and financial expertise to respond to evolving customer expectations and developments in digital finance.

Further information about Qivalis: Qivalis – Secure. Trusted. Future-ready. 

For further information

Media inquiries, +358 10 416 8023 or press@nordea.com

*MiCAR, Markets in Crypto-Assets Regulation, is the EU’s regulation for cryptocurrencies, designed to make the market safer and clearer for both companies and consumers.

Nordea is a leading Nordic financial services group and the preferred choice for millions of customers across the region. For more than 200 years, we have proudly served as a trusted financial partner for individuals, families and businesses – enabling dreams and aspirations for a greater good. Our vision is to be the best-performing financial services group in the Nordics, accelerating through our scale, people and technology. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges.

SOURCE: Nordea Bank