Nordea considers it important to be involved in strengthening European financial autonomy and developing bank-led financial market infrastructure that seeks to support cross-border payments, settlement efficiency and emerging opportunities in digital finance.

"A well-regulated and reliable stablecoin has the potential to become an important part of the future financial system. By joining the consortium, Nordea will collaborate with other major banks to explore and help shape a regulated and stable technology, which in future will provide optionality to broaden service offerings to our customers," says Ian Smith, Nordea's Group CFO.

Qivalis is owned and governed by participating banks and aims to operate as an electronic money institution. The stablecoin will be regulated under the MiCAR* framework and is expected to be first issued in the second half of 2026.

Further information about Qivalis: Qivalis - Secure. Trusted. Future-ready.

For further information

Media inquiries, +358 10 416 8023 or press@nordea.com

*MiCAR, Markets in Crypto-Assets Regulation, is the EU's regulation for cryptocurrencies, designed to make the market safer and clearer for both companies and consumers.

Nordea is a leading Nordic financial services group and the preferred choice for millions of customers across the region. For more than 200 years, we have proudly served as a trusted financial partner for individuals, families and businesses - enabling dreams and aspirations for a greater good. Our vision is to be the best-performing financial services group in the Nordics, accelerating through our scale, people and technology. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges.