# Financial sector stablecoin adoption and regulation

> Live situation record from CLSTR: https://clstr.news/situations/financial-sector-stablecoin-adoption-and-regulation
> Updated: 2026-10-13T08:48:15.000Z. Sources: 9. Developments: 2.

Financial institutions are increasingly testing and regulating stablecoin technology for cross-border and regional payments.

In late September 2026, Lloyds Banking Group and Visa completed a seven-day pilot using stablecoins to settle $750,000 in payment obligations. The trial demonstrated that funds could move from Jersey to the United States in under an hour, even during a weekend, by utilizing different blockchain networks to test interoperability with existing banking infrastructure.

By mid-October 2026, the focus shifted toward regulatory frameworks in Europe. The Qivalis consortium, a group of 37 European banks led by ING, secured an electronic money token issuer license from the Dutch Central Bank. This milestone, achieved under the Markets in Crypto-Assets (MiCA) regulation, paves the way for a euro-pegged stablecoin intended to facilitate transfers via blockchain. The project aims for a late 2026 launch and is positioned as a bank-backed digital euro alternative.

Under this authorization from De Nederlandsche Bank (DNB), Qivalis is permitted to issue euro-denominated electronic money tokens (EMTs) using a full reserve model pegged 1:1 to the euro. The consortium, which includes major institutions such as BBVA, BNP Paribas, and UniCredit, plans to distribute tokens through a business-to-business model involving commercial banks and payment service providers. Before official issuance begins, the group must complete further MiCA-mandated requirements, such as the publication of a white paper.

## Claims

- Qivalis has secured an Electronic Money Institution (EMI) license from De Nederlandsche Bank (DNB). (corroborated by 6 sources)
- The consortium consists of 37 banks across 15 European countries. (corroborated by 5 sources)
- The company plans to distribute tokens through banks, exchanges, and payment service providers rather than directly to retail consumers. (corroborated by 4 sources)
- Issuance is subject to meeting additional MiCA requirements, including the publication of a white paper. (corroborated by 4 sources)
- The stablecoin will be pegged 1:1 to the euro using a full reserve model. (corroborated by 3 sources)
- Qivalis was founded in September 2025 and is headquartered in Amsterdam. (corroborated by 3 sources)

## Timeline

### 2026-10-13: Qivalis secures Dutch EMI license for euro stablecoin

Qivalis, a consortium of 37 European banks, has obtained an EMI license from the Dutch central bank to prepare for the launch of a euro-pegged stablecoin under MiCA regulations.

8 sources. https://clstr.news/cluster/qivalis-consortium-of-37-banks-secures-license-for-euro-stablecoin

### 2026-09-29: Lloyds and Visa pilot stablecoin settlement for cross-border payments

Lloyds Banking Group and Visa successfully piloted stablecoin-based cross-border settlements, while industry reports show DLT is moving toward production-grade treasury and liquidity management applications.

2 sources. https://clstr.news/cluster/lloyds-and-visa-pilot-stablecoin-settlement-for-cross-border-payments

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Cite as: Financial sector stablecoin adoption and regulation. CLSTR, https://clstr.news/situations/financial-sector-stablecoin-adoption-and-regulation