According to @charlesdhaussy, Qivalis unveiled a bank-issued euro stablecoin initiative backed by a 10-bank consortium including BNP Paribas, UniCredit, and ING, with Dutch Central Bank authorization via an EMI license and MiCA compliance from day one, targeting an H2 2026 launch and a chain-agnostic design, source: @charlesdhaussy. The author frames this as Europe entering the stablecoin wars to compete with USDT and USDC, which control about 90% of a roughly USD 300B market, while also rivaling EURc and EUROCV, source: @charlesdhaussy. The model is positioned to avoid bank disintermediation by keeping deposits within banks and aligning with ECB control, with leadership hires Jan-Oliver Sell as CEO and Sir Howard Davies as chairman to add execution and regulatory depth, source: @charlesdhaussy. Trading relevance highlighted by the author includes potential shifts in euro on-chain settlement and institutional use cases such as trade finance, corporate treasury, and programmable payments as the initial focus rather than retail crypto rails, source: @charlesdhaussy.