By Peter Oakes, Founder Fintech Ireland.
As chair of two MiCAR firms authorised in the EU, I find this news today about Irish banks joining a stablecoin project very interesting. Wearing my INED hat at two EU emoney firms, I can understand the passion to reduce friction and costs in payments. Lots to unpack here for sure!
AIB announces it has joined stablecoin project Qivalis. The other Irish bank that has joined the project is Bank of Ireland.
The supervisory board of Qivalis is chaired by my former Financial Conduct Authority (then FSA) boss Sir Howard Davies who also served as Deputy Governor of the Bank of England and is a former Chair of RBS/NatWest
Qivalis B.V., registered with the Dutch Trade Register under number 98235680. Subject to receiving regulatory approval, is targeting a market launch in the second half of 2026. It is a consortium of 37 leading European banks established to issue a regulated, euro-denominated compliant stablecoin that will enable seamless, efficient and secure payments and settlements within Europe and globally.
AIB is one of 25 new members joining today (20 May 2026) the existing 12 banks already in the consortium as part of a major expansion.
Qivalis:
➡️ desires on-chain ecosystem that positions a euro-denominated stablecoin as a global benchmark for digital finance.
➡️ seeks to enable the European finance sector to expand its digital infrastructure and build the future of European payments and settlements.
➡️ expects the euro stablecoin to be fully compliant with the EU's Markets in Crypto-Assets (#MiCAR) regulation.
AIB’s collaboration is to further and strengthen its our ability to deliver payments innovation to its clients.
Geraldine Casey, Managing Director Retail Banking at AIB said: “We are investing in this consortium because we believe Europe needs trusted, regulated innovation in payments and settlement... This investment aligns with that focus, the rapid transformation in payments and the growing development of blockchain and digital asset initiatives.”
AIB claims that it invests around €400 million each year to become a digitally progressive bank.
Meanwhile Billy O'Connell, Chief Strategy Officer at Bank of Ireland, said that through this initiative, Bank of Ireland is advancing innovation to deliver real benefits for customers, strengthen Europe’s financial infrastructure, and support the responsible development of digital money ...In doing so, we are helping to shape the future of how money moves, while supporting our ambition of offering unrivalled financial choice - now and for generations to come,"
Read more at:
As chair of two MiCAR firms authorised in the EU, I find this news today about Irish banks joining a stablecoin project very interesting. Wearing my INED hat at two EU emoney firms, I can understand the passion to reduce friction and costs in payments. Lots to unpack here for sure!
AIB announces it has joined stablecoin project Qivalis. The other Irish bank that has joined the project is Bank of Ireland.
The supervisory board of Qivalis is chaired by my former Financial Conduct Authority (then FSA) boss Sir Howard Davies who also served as Deputy Governor of the Bank of England and is a former Chair of RBS/NatWest
Qivalis B.V., registered with the Dutch Trade Register under number 98235680. Subject to receiving regulatory approval, is targeting a market launch in the second half of 2026. It is a consortium of 37 leading European banks established to issue a regulated, euro-denominated compliant stablecoin that will enable seamless, efficient and secure payments and settlements within Europe and globally.
AIB is one of 25 new members joining today (20 May 2026) the existing 12 banks already in the consortium as part of a major expansion.
Qivalis:
➡️ desires on-chain ecosystem that positions a euro-denominated stablecoin as a global benchmark for digital finance.
➡️ seeks to enable the European finance sector to expand its digital infrastructure and build the future of European payments and settlements.
➡️ expects the euro stablecoin to be fully compliant with the EU's Markets in Crypto-Assets (#MiCAR) regulation.
AIB’s collaboration is to further and strengthen its our ability to deliver payments innovation to its clients.
Geraldine Casey, Managing Director Retail Banking at AIB said: “We are investing in this consortium because we believe Europe needs trusted, regulated innovation in payments and settlement... This investment aligns with that focus, the rapid transformation in payments and the growing development of blockchain and digital asset initiatives.”
AIB claims that it invests around €400 million each year to become a digitally progressive bank.
Meanwhile Billy O'Connell, Chief Strategy Officer at Bank of Ireland, said that through this initiative, Bank of Ireland is advancing innovation to deliver real benefits for customers, strengthen Europe’s financial infrastructure, and support the responsible development of digital money ...In doing so, we are helping to shape the future of how money moves, while supporting our ambition of offering unrivalled financial choice - now and for generations to come,"
Read more at:
- https://www.linkedin.com/posts/peteroakes_stablecoin-micar-activity-7462835989720375296-P3ev
- https://qivalis.eu/
- https://www.linkedin.com/posts/aibireland_aib-is-pleased-to-be-joining-qivalis-a-consortium-activity-7462761080545796096-C_0_
- https://www.rte.ie/news/business/2026/0520/1574265-bank-of-ireland-joins-euro-stablecoin-initiative/