Landsbankinn has become a shareholder in Qivalis, a company owned by 37 leading financial institutions from 15 European countries, thereby participating in the development of a euro-denominated stablecoin for the European financial market.
A stablecoin is a digital asset issued in the form of a cryptocurrency and pegged to the value of a traditional fiat currency. The solution being developed by Qivalis will be fully backed by reserve assets corresponding to each issued digital token. One digital euro will always equal one euro. The stablecoin will be supervised by the Dutch Central Bank. All shareholders hold equal ownership stakes and the collaboration strengthens the ability of European financial institutions to issue euro-denominated digital assets.
Lilja Björk Einarsdóttir, CEO of Landsbankinn: “Landsbankinn joins a broad collaborative of leading European banks that aim at developing the future infrastructure of the financial system, with a focus on security, transparency and efficiency in digital payments. It is important for Landsbankinn to help shape and leverage technological innovations that we believe can simplify life for our customers.”
The objective of the initiative is to build secure European infrastructure for digital payments and settlement that complies with European Union regulations, including the MiCA regulatory framework for crypto-asset markets.
Qivalis was established in 2025 and is headquartered in Amsterdam. The project is currently undergoing the licensing process with the Dutch Central Bank, with the solution expected to launch in the second half of 2026. Landsbankinn becomes a shareholder through participation in the company’s capital increase. Other participants in the collaboration include ABN AMRO, BBVA, BNP Paribas, Nordea, Rabobank, SEB, Swedbank, Danske Bank and UniCredit.
