Ripple Custody Gains Ground as 37 European Banks Back Euro Stablecoin Launch

In Brief:

• Qivalis has secured Dutch regulatory authorization as 37 European banks prepare to introduce a euro stablecoin for institutional transactions.
• Ripple Custody supports BBVA and DZ BANK in managing digital assets through existing banking infrastructure while maintaining regulatory compliance requirements.
• Euro stablecoin capitalization reached €450 million by January 2026, highlighting growing demand for regulated digital assets across European markets.

Ripple Custody has gained relevance as 37 European financial institutions prepare to introduce a regulated euro-denominated stablecoin through Qivalis. The Amsterdam-based banking consortium plans to develop a digital asset supporting institutional payments, settlement, and tokenized financial products across Europe.

According to Ripple, consortium members BBVA and DZ BANK already use its custody infrastructure to manage digital assets within established banking systems. Qivalis has secured authorization from De Nederlandsche Bank (DNB) as an electronic money institution under the European Union’s MiCA framework.

The consortium expects to launch its euro-backed stablecoin following regulatory review of its white paper, with tokens maintaining one-to-one backing. Its membership has expanded from 12 founding banks to 37 institutions across 15 countries, strengthening its European banking network.

Ripple Custody Supports European Banks Preparing for Regulated Stablecoin Operations

Ripple’s existing partnerships demonstrate how European financial institutions are developing custody capabilities to accommodate regulated digital assets. While Qivalis will oversee stablecoin issuance and redemption, participating banks must establish appropriate arrangements for safeguarding customer holdings.

Ripple Custody provides infrastructure connecting digital asset management with existing banking platforms through API-based integration and automated governance controls. DZ BANK adopted Ripple Custody to support digital securities under Germany’s Electronic Securities Act without replacing established capital-market processes.

The German institution manages approximately €350 billion in custody assets and previously supported custody involving a Siemens tokenized bond. Meanwhile, BBVA expanded cryptocurrency trading and custody services across Spain in July 2025, following the implementation of MiCA requirements. The Spanish banking group maintains control over customer assets and cryptographic keys while integrating Ripple’s technology into existing systems.

Euro Stablecoin Market Expansion Creates New Banking Infrastructure Requirements

Qivalis enters a European stablecoin market experiencing substantial growth, despite remaining considerably smaller than its dollar-denominated counterpart. Euro stablecoin capitalization increased from approximately €50 million in early 2024 to €450 million by January 2026.

Meanwhile, dollar-backed stablecoins represent approximately $300 billion, highlighting the market gap European banks intend to address through regulated infrastructure. Qivalis aims to strengthen euro-denominated digital payments, while participating institutions develop custody arrangements supporting institutional adoption.

Ripple’s established relationships with BBVA and DZ BANK demonstrate its existing position within Europe’s expanding regulated digital asset infrastructure.