Ripple pitches custody to European banks as 37 back Qivalis euro stablecoin

Ripple is pitching its crypto custody technology to European banks, citing BBVA and DZ BANK as clients, in a November 9, 2026 post that follows the Dutch central bank’s October 14, 2026 authorisation of Qivalis, a 37-bank euro stablecoin venture. Qivalis will run its own issuance and redemption systems.

Ripple positions its custody technology for European banks

Ripple’s November 9 assessment focused on the infrastructure financial institutions need before offering cryptocurrency and tokenized asset services to customers.

These functions are particularly important for banks operating under strict financial regulations, where protecting customer assets and maintaining operational accountability are essential.

Cassie Craddock, Ripple’s vice president and managing director, pointed to the changing regulatory environment in Europe as a major factor encouraging institutional participation.

“Now that the EU’s Markets in Crypto-Assets regulation (MiCA) is established across Europe, the region’s banks are emboldened to launch the digital asset offerings that their customers are asking for.”

Ripple also emphasised that banks need flexibility in determining how digital assets are protected. Some institutions may prefer to maintain direct control over customer assets, while others could outsource custody responsibilities to specialised technology providers.

Its infrastructure supports integration with existing banking systems through application programming interfaces (APIs). These connections allow financial institutions to incorporate digital asset operations into their established technology environments.

The company’s custody framework also includes software-based controls designed to manage permissions, approval processes, operational responsibilities and jurisdictional requirements.

BBVA and DZ BANK demonstrate Ripple’s banking partnerships

Ripple’s relationship with BBVA and DZ BANK provides practical examples of how traditional financial institutions are incorporating cryptocurrency custody into their operations.

BBVA, one of Spain’s major banking institutions, has used Ripple’s custody infrastructure to support Bitcoin and Ethereum services for retail customers.

The arrangement allows the bank to retain control of its cryptographic keys rather than handing responsibility for safeguarding customer assets entirely to an external provider.

The partnership is also relevant to BBVA’s digital asset operations in Switzerland and Turkey, demonstrating how established banks can extend cryptocurrency services across different jurisdictions.

DZ BANK presents another example, although its requirements are more focused on institutional financial markets. The German banking group selected Metaco’s custody technology, which became part of Ripple following its acquisition of the Swiss company in 2023.

The platform was intended to help DZ BANK manage digital securities within Germany’s Electronic Securities Act framework while maintaining compatibility with its existing financial infrastructure.

One notable application involved a tokenized Siemens bond held by DZ BANK and Union Investment. Tokenization allows ownership or financial rights associated with traditional assets to be represented digitally on a blockchain.

For banks considering participation in the emerging market, existing custody relationships could reduce the operational challenges associated with introducing additional blockchain-based financial products.

Qivalis secures Dutch authorization for Euro stablecoin

Qivalis is an Amsterdam-based joint venture backed by 37 European banks operating across 15 countries. The consortium initially started with 12 founding institutions before expanding its membership.

Its participants include ING, BNP Paribas, BBVA and DZ BANK, giving the project access to established financial networks across several European markets.

An important development came on October 14, 2026, when De Nederlandsche Bank (DNB), the Netherlands’ central bank, authorised Qivalis as an Electronic Money Institution.

The authorization allows the company to issue euro-denominated electronic money tokens, subject to the applicable regulatory requirements. It also places the venture under continuing supervision by the Dutch regulator.

Qivalis intends to introduce a fully reserved digital currency, meaning each token will be backed by reserves on a one-to-one basis with the euro. The model is designed to maintain a direct relationship between the token’s value and the underlying fiat currency.

However, regulatory authorization should not be confused with an already completed commercial launch. Qivalis has indicated that issuance is expected within the coming months, subject to the relevant Markets in Crypto-Assets Regulation requirements and publication of its white paper.

Distribution is expected to involve eligible banks, cryptocurrency exchanges, payment service providers and financial market infrastructure participants.

What the Euro stablecoin means for crypto investors

The proposed launch could have broader implications for Europe’s cryptocurrency market, particularly as traditional banks become more involved in blockchain-based financial services.

Companies providing custody, compliance, payment processing and tokenization services may find additional opportunities as banks expand their blockchain operations.

Ripple’s involvement is particularly noteworthy because its business extends beyond cryptocurrency payments. Its custody infrastructure, institutional partnerships and acquisition of Metaco position the company within a market where traditional financial institutions increasingly require specialised digital asset services.

A regulated euro-backed alternative could provide European businesses with another option for blockchain-based payments and settlements without relying entirely on dollar-pegged digital currencies.

The actual success of the Euro stablecoin will depend on several factors, including institutional demand, liquidity, regulatory compliance, redemption arrangements and the willingness of financial institutions to integrate the token into their existing services.

Another important consideration is Ripple’s role. Although BBVA and DZ BANK already use technology associated with Ripple’s custody business, Qivalis will operate its own issuance and redemption infrastructure.

If Qivalis successfully introduces its planned digital currency, the Euro stablecoin could become an important addition to Europe’s regulated digital financial infrastructure.

The next developments to watch are the publication of Qivalis’ white paper, the completion of applicable regulatory requirements and the eventual commencement of issuance.