Qivalis and Delegence STO Announce Strategic Partnership to Bridge Euro Stablecoin and Security Token Markets

Amsterdam, Netherlands — September 10, 2026 — Qivalis, the European bank consortium developing a regulated euro-denominated stablecoin, and Delegence STO, a security token offering platform specializing in compliant digital asset issuance, have entered into a strategic partnership aimed at integrating euro-backed stablecoin settlement with tokenized securities infrastructure.

The collaboration marks a significant step in the convergence of two rapidly maturing segments of the digital asset ecosystem: bank-led stablecoin issuance and regulated security token offerings. By combining Qivalis's MiCA-compliant euro stablecoin with Delegence STO's tokenization capabilities, the partnership seeks to create a seamless bridge between traditional capital markets and blockchain-based financial infrastructure.

Qivalis: A Bank-Led Euro Stablecoin Initiative

Qivalis was established in December 2025 in Amsterdam as a consortium of European banks committed to issuing a fully regulated, euro-denominated stablecoin. The initiative was born out of a recognition that European financial institutions needed a blockchain-native settlement asset to support cross-border payments, bond settlement, and tokenized fund operations without relying on U.S. dollar-denominated stablecoins.

The consortium has grown rapidly since its founding. What began with nine founding banks — including ING, CaixaBank, Danske Bank, DekaBank, KBC, Raiffeisen Bank International, SEB, UniCredit, and Banca Sella — has expanded to 37 financial institutions from 15 European countries. BNP Paribas joined shortly after the initial launch, followed by additional institutions including ABN AMRO, Swedbank, Rabobank, Nordea, AIB, and Bank of Ireland.

Qivalis is owned and governed by its participating banks and aims to operate as an Electronic Money Institution (EMI) under Dutch oversight. The stablecoin is being developed to comply with the EU's Markets in Crypto-Assets Regulation (MiCAR), with first issuance targeted for the second half of 2026. The project is led by CEO Jan-Oliver Sell, a former head of Coinbase Germany, who has emphasized that the euro must play a key role as financial services migrate to blockchain technology.

Delegence STO: Tokenizing Regulated Securities

Delegence STO operates as a security token offering platform that enables the issuance of blockchain-based tokens representing legally recognized securities, including equity stakes and debt instruments. Unlike initial coin offerings (ICOs), which operated in regulatory gray areas, STOs are structured to comply with securities laws and encode enforceable investor rights.

The platform focuses on bridging real-world assets with blockchain-based distribution, allowing issuers to raise capital through tokenized securities that offer greater transparency, fractional ownership, and programmable compliance features. Delegence STO's infrastructure is designed to serve institutional issuers seeking to access digital asset markets while maintaining adherence to securities regulations.

The Strategic Partnership

Under the terms of the collaboration, Qivalis and Delegence STO will work together to integrate Qivalis's euro stablecoin as a primary settlement currency for security token offerings conducted on the Delegence platform. This integration is expected to enable instant settlement of tokenized securities transactions, reduce counterparty risk, and eliminate the need for conversion through U.S. dollar stablecoins.

The partnership addresses a critical gap in the European digital asset ecosystem. As Jan-Oliver Sell noted in a recent interview, European banks are increasingly looking to use blockchain technology to improve internal processes, cross-border payments, and bond settlement — but they require a cash counterparty on the blockchain to make these operations viable. Without a euro-denominated stablecoin, institutions are forced to rely on dollar-based alternatives, creating risks of dollarization in European digital finance.

Delegence STO, meanwhile, gains access to a regulated, bank-backed settlement asset that aligns with the compliance expectations of institutional issuers and investors. The collaboration positions both entities at the forefront of Europe's emerging tokenized capital markets infrastructure.

Strategic Implications for European Digital Finance

The Qivalis–Delegence STO partnership carries implications beyond the two organizations. It represents a model for how bank-led stablecoin initiatives can interoperate with specialized tokenization platforms to build a cohesive digital asset infrastructure.

The European Union's MiCAR framework has provided regulatory clarity that enables projects like Qivalis to operate with confidence. As Sell has argued, the entry into force of MiCA has given banks the certainty they need to move quickly into the digital asset space. The partnership with Delegence STO demonstrates how this regulatory foundation can support commercial innovation.

Furthermore, the collaboration strengthens European financial autonomy. By providing a euro-denominated settlement layer for tokenized securities, the partnership reduces reliance on dollar-based stablecoins and supports the broader goal of establishing the euro as a key currency in blockchain-based finance.

Future Outlook

Both Qivalis and Delegence STO have indicated that the partnership will evolve beyond settlement integration. Future areas of collaboration may include joint development of tokenized financial products, shared compliance infrastructure, and coordinated engagement with European regulators on standards for stablecoin-settled securities transactions.

As Qivalis prepares for its first stablecoin issuance in the second half of 2026, the partnership with Delegence STO provides an immediate commercial use case for the euro stablecoin. For Delegence STO, the collaboration offers a path to differentiated settlement capabilities in an increasingly competitive STO market.

The strategic partnership between Qivalis and Delegence STO exemplifies the maturation of the digital asset industry in Europe — moving from speculative experimentation toward regulated, institutionally grounded infrastructure that serves real economic functions.