BNP Paribas has announced that it is joining a consortium of ten European banks to develop a stablecoin backed by the euro. As a reminder, a stablecoin is a digital asset (cryptoasset) designed to maintain a stable value by being backed by a reference asset, often a currency (such as the euro or the dollar). The aim is to limit the volatility of traditional cryptocurrencies.

A dedicated entity, Qivalis, has been created in the Netherlands and has applied for an electronic money institution license from the Dutch Central Bank.

The initiative aims to strengthen innovation and security in digital payments in Europe, in a context of rapid diversification of uses and development of blockchain solutions. The project also aims to offer a European alternative to dollar-denominated stablecoins, contributing to the continent's strategic autonomy in payments.

BNP Paribas will participate in the construction of "on-chain" payment ecosystems, working with its corporate clients to identify concrete use cases that comply with regulatory requirements.

Qivalis is preparing to launch the stablecoin in the second half of 2026.

Banking stocks are also posting the strongest gains on the CAC 40 this afternoon, with Société Générale and BNP Paribas up 1.7% and Crédit Agricole up 1.4%.