Banking cryptocurrency is set to launch in the summer

It is expected to be issued in the summer, assuming the license is granted, says Christian WolfHead of Strategic Partnerships and Ecosystems at RBI. Technically we will be ready in July.

Use in international payment transactions

At the RBI, the cryptocurrency will initially be used international payment transactions can be used across different currency areas, says Wolf. The RBI also wants to enter into the region through subsidiary banks in Central and Eastern Europe Cryptocurrency trading get in. It should be at the end of the year or the beginning of next year. Until then, regulatory issues still need to be clarified in countries outside the Eurozone.

There is also interest in the cryptocurrency from other European banks that are not yet part of the consortium, says Wolf. The desire for European independence also plays a role.

US providers dominate

It’s currently going around $320 billion stablecoin market dominated by US providers. Euro stablecoins have a market share of 0.2 percent a niche product. The largest, paradoxically, is published by the US provider Circle. Through the banks involved, Qivalis expects to be able to appeal to a larger customer base and achieve significant volumes with the offer. In any case beyond 250 million eurossays Wolf.

Future markets in sight

With the stablecoins, the banks are also targeting future markets, such as agent-based trading. At the Use of autonomous AI agents in online tradingThose who search for, compare products and make purchases for users also need the option of automated transactions. The blockchain technology underlying cryptocurrencies and stablecoins as a means of payment would be well suited for this, says Wolf. They also don’t want to leave the field to US payment service providers such as Mastercard, which are already implementing pilot projects in the area.