Qivalis Euro Stablecoin Talks, Feb Losses Low, Kalshi Update
Here are the key developments in crypto today: Qivalis, a European banking consortium, is engaging with crypto exchanges and liquidity providers ahead of the planned launch of a euro-pegged stablecoin in the second half of 2026; losses from hacks and scams fell to $26.5 million in February, the lowest monthly total since March 2025, according to PeckShield; and Kalshi outlined measures taken on a market related to Iran’s Supreme Leader Ayatollah Ali Khamenei following confirmation of his death.
European banks engage exchanges ahead of 2026 euro stablecoin rollout
Qivalis, a consortium of major European banks, is in advanced discussions with cryptocurrency exchanges, market makers, and liquidity providers to distribute its planned euro-pegged stablecoin, Spanish business daily Cinco Días reported Monday. The group, which includes ING and UniCredit and recently added BBVA, aims to launch the stablecoin in the second half of 2026, according to the report.
The shareholder banks will also be able to distribute the stablecoin. Qivalis was first announced in September 2025 with nine founding members: ING, UniCredit, CaixaBank, Danske Bank, Raiffeisen Bank International, KBC, SEB, DekaBank, and Banca Sella.
Qivalis CEO Jan Sell, formerly head of Coinbase in Germany, said the consortium is assessing partnerships with both European and international platforms to support the project’s global scope and to provide a regulated, domestic alternative to U.S. dollar-denominated stablecoins. He added that the initiative is intended to support real-time, cross-border business-to-business payments and global trade.
Spanish bank BBVA joined Qivalis as its 12th member in early February. Source: Jan Sell
February crypto losses drop to lowest since March 2025: PeckShield
Losses from crypto-related hacks and scams totaled $26.5 million in February, marking the lowest monthly tally since March 2025, blockchain security firm PeckShield said Sunday. Of 15 incidents recorded during the month, two accounted for the bulk of the losses: a $10 million theft from YieldBlox’s DAO-managed lending pool via a price manipulation attack on Feb. 21, and an $8.9 million private key exploit on IoTeX on the same day.
Losses from crypto hacks and scams fell sharply in February, hitting the lowest level since March 2025. Source: PeckShield
A PeckShield spokesperson said February did not see any “mega-hacks,” citing the absence of events on the scale of the $1.5 billion Bybit incident reported in February 2025, and noted that market volatility coincided with a slowdown in malicious activity. Kronos Research analyst Dominick John said the decline may also reflect tighter risk controls, stronger counterparty standards, and improved real-time monitoring at major venues.
Kalshi outlines carveout for positions tied to Iran’s Khamenei
Tarek Mansour, co-founder of prediction market platform Kalshi, provided an update following the platform’s decision to void certain positions opened after Iran’s Supreme Leader Ayatollah Ali Khamenei’s death was confirmed. In a post on X, Mansour said the platform does not list markets directly tied to death and structures rules to prevent users from profiting from outcomes involving death.
Kalshi is reimbursing all fees from the “Ali Khamenei out as Supreme Leader” market. Traders with positions open before Khamenei’s death will be paid according to the last-traded price before his death. Users who opened positions after his death will be reimbursed for the difference between their higher entry price and the last-traded price. Source: @Kalshi on X.com
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