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Over 99% of stablecoin supply today is denominated in US dollars. In Europe, a consortium of 12 major banks has set up Qivalis in Amsterdam to change that, with a MiCA-compliant euro stablecoin targeted for the second half of 2026. In this episode, Jan-Oliver Sell, CEO of Qivalis, joins Range to unpack the thesis behind the planned bank-issued euro stablecoin, the path through the Dutch Central Bank's Electronic Money Institution regime, and what it takes to coordinate Banca Sella, BBVA, BNP Paribas, CaixaBank, Danske Bank, DekaBank, DZ Bank, ING, KBC, Raiffeisen Bank, SEB and UniCredit under one token. Jan previously led Coinbase Germany and secured the first BaFin crypto custody license. Hosted by Paula Pettit, VP of Strategy & Growth at Range. In this episode, we explore: - Why Europe risks digital dollarization without a homegrown stablecoin - How Qivalis is structured across 12 banks, an EMI license and MiCA - Liquidity, exchange integrations and the path to onchain usage - Compliance and cross-chain risk infrastructure for regulated issuers As regulated euro liquidity moves onchain, the infrastructure supporting it, from issuance to cross-chain monitoring, has to meet both MiCA and crypto-native standards. This conversation looks at how Qivalis is building for both.

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