Qivalis Says Stablecoins Are Reshaping Trade Finance
Qivalis sees especially fast adoption in Asia, Africa, and Latin America, while it works on a regulated euro stablecoin under MiCA.
Key Takeaways
- Qivalis says stablecoins are speeding up trade finance because payments and collateral are increasingly settling directly onchain.
- The company has connected 37 European banks and is working on a regulated euro stablecoin, with a planned launch later this year.
- According to Qivalis, Europe has more room under MiCA, while the market is shifting toward a world with multiple stablecoins alongside dollar tokens.
Qivalis says stablecoins are quickly changing the world of trade finance. According to CEO and founder Jan-Oliver Sell, the sector is shifting from paperwork and slow settlement to payments and collateral that increasingly move directly onchain. The euro-pegged crypto company has connected 37 European banks over the past year and is working on a regulated euro stablecoin.
Trade Finance Is Moving Onchain
Trade finance is about the cash flows that make international trade possible. Qivalis sees this part of the market now clearly moving toward stablecoins, especially in regions like Asia, Latin America, and Africa. Sell said that parties in that chain are increasingly using stablecoins without first converting back to fiat.
He gave the example of a supplier in East Africa trading with a party in Kazakhstan. In cases like that, payments and collateral can move much faster, allowing collateral to rotate in minutes instead of days, according to Sell. That is a big difference in a market where speed and liquidity are often decisive.
Qivalis Is Building a Euro Stablecoin
Qivalis itself has also grown quickly. Where Sell was still the only employee a year ago, the company now has about 40 staff members. The company is also close to getting an Electronic Money Institution license in the Netherlands and wants to go live with a regulated euro stablecoin by the end of this year.
That step fits into a broader European trend. In February, BBVA already joined the Qivalis consortium after the bank dropped its own stablecoin project. The consortium’s expansion to 37 institutions from 15 countries shows that multiple European banks are working together around a euro-denominated solution.
Interest in euro tokens is also growing elsewhere in Europe: Revolut is rolling out a euro stablecoin in its own app already, showing that the market for euro-denominated stablecoins is starting to broaden.
Europe Gets More Room
Sell also pointed to the delay around the U.S. Clarity Act. According to him, that gives Europe extra room, because under MiCA parties at least know where they stand. The European Central Bank also advised this month to ease the liquidity requirements for stablecoin issuers under MiCA, in order to make the sector more financially sustainable without losing sight of stability.
For European crypto and banking players, that matters because the stablecoin market still mostly revolves around dollar tokens from Tether and Circle. Qivalis expects more room for a multi-stablecoin world, where euros, yen, and won also play a bigger role in cross-border payments.
