France’s finance minister backs bank‑issued euro stablecoins and Qivalis’ 2026 launch, pivoting policy to keep Europe’s digital rails denominated in euros, not dollars.

France’s finance minister Roland Lescure has publicly called for more euro‑denominated stablecoins and urged European banks to move ahead with tokenized deposits, signaling a sharp policy pivot in Paris toward bank‑issued digital euros. Speaking at a crypto conference in Paris on April 17, Lescure said the current volume of euro‑pegged stablecoins versus dollar tokens is “not satisfactory” and warned that Europe cannot leave its digital payment rails to foreign currencies. His remarks come as the Qivalis alliance of 12 major European banks, including ING, UniCredit, BBVA and BNP Paribas, prepares a MiCA‑compliant euro stablecoin for launch in the second half of 2026.finance.

Lescure told attendees that “Europe need[s] more euro‑based stablecoins” and said he “strongly encourage[s] banks to further explore the launch of tokenised deposits,” framing the projects as tools to strengthen European digital sovereignty and reduce reliance on dollar‑pegged tokens. He explicitly endorsed the Qivalis initiative, saying “that is what we need and that is what we want,” in what is effectively a political green light for the consortium’s plans to issue a euro‑pegged stablecoin under the EU’s Markets in Crypto‑Assets, or MiCA, framework.

Qivalis, based in Amsterdam, is working toward regulatory approval from the Dutch central bank and aims to operate as an electronic money institution, with CEO Jan‑Oliver Sell calling a native euro stablecoin “a major turning point for digital commerce and financial innovation in Europe.” The group’s stated goal is to become the “interface between blockchain and the euro” and the default euro token across exchanges, custodians and DeFi platforms, a direct attempt to head off “digital dollarization” from dollar‑linked tokens like USDT and USDC.

Lescure’s comments also land against a tougher French line on non‑euro stablecoins, with the Bank of France recently calling for stricter limits on foreign stablecoin payments under MiCA to mitigate systemic risk. European regulators have warned that widespread use of non‑EU stablecoins inside the bloc could undermine monetary policy, pushing authorities to explore ways of tightening rules on large dollar‑based tokens even as they open the door to euro projects.

The broader European shift is already visible across the banking sector, with euro stablecoin projects moving from “education and risk‑understanding” into concrete launch preparations as MiCA’s unified regime reduces regulatory uncertainty. For France, backing Qivalis and euro stablecoins is an attempt to ensure that when on‑chain settlement volumes rival traditional card networks, it is the euro—rather than the dollar—that anchors European rails, in both payments and tokenized assets.

Related crypto.news coverage includes a recent story on how stablecoins are tipped to power global settlement, an explainer on what infrastructure companies use to add stablecoin payments, and a regional look at how firms like Stables and Mansa are stitching together Asia’s missing stablecoin rails.

Kraken parent Payward will buy Bitnomial for up to $550M, adding a full CFTC derivatives stack just as Deutsche Börse’s $200M stake backs its U.S. build‑out.

Payward Inc., the parent company of crypto exchange Kraken, has agreed to acquire Chicago‑based crypto derivatives venue Bitnomial in a deal worth up to $550 million in cash and stock, further accelerating its push into U.S. regulated futures and options. The companies expect the transaction to close in the first half of 2026, subject to customary regulatory approvals from the Commodity Futures Trading Commission (CFTC) and other U.S. authorities.

Bitnomial is the first crypto‑native operator to assemble the full CFTC derivatives stack, running a Designated Contract Market, a Derivatives Clearing Organization and a Futures Commission Merchant under one roof. According to Bitnomial’s own materials, its exchange and clearinghouse support “leveraged spot, perpetuals, futures, options, and prediction markets, all on one CFTC‑regulated exchange with crypto margin and settlement,” giving Payward an immediate onshore home for products that previously leaned on offshore venues.

Under the plan, Payward will plug Bitnomial’s trading and clearing infrastructure into Kraken, NinjaTrader and Payward Services, offering banks, brokerages and fintechs a single API into CFTC‑regulated crypto derivatives. Kraken has already been expanding in this direction; in a prior crypto.news story it acquired CFTC‑regulated Small Exchange for about $100 million to secure a DCM license, and later used that footprint to launch U.S. regulated derivatives tied to CME‑listed futures.

The Bitnomial deal lands just days after German exchange operator Deutsche Börse agreed to buy a 1.5% fully diluted stake in Payward for $200 million, in a transaction that values Kraken at roughly $13.3 billion. Deutsche Börse said the partnership is meant to “deepen” its role in regulated crypto, tokenized markets and derivatives, with a focus on “enhanced liquidity for institutional clients across geographies,” effectively giving Europe’s largest exchange group a front‑row seat in Kraken’s derivatives build‑out.

Regulators have also been preparing the ground for this shift. CFTC Commissioner Caroline Pham has pushed to bring leveraged spot crypto trading and perpetual‑style products onshore under full DCM and DCO oversight, arguing they can be offered safely if “brought into our markets under well‑defined rules and supervision.” In that context, Bitnomial’s December 2025 launch of the first‑ever leveraged retail spot crypto market under CFTC jurisdiction — which CEO Luke Hoersten called “a watershed moment for U.S. crypto markets” — looks like a dress rehearsal for the infrastructure Payward is now buying.

For institutional order flow, the battle increasingly turns on who controls the cleanest regulatory pipe: the combination of licenses, clearing and prime‑style services that let banks and asset managers trade crypto derivatives without touching offshore platforms. With Bitnomial’s stack and Deutsche Börse’s capital, Payward is positioning Kraken as a CME‑style hub for digital asset futures, options and leveraged spot inside the U.S., echoing its broader strategy to bridge tokenized assets, equities and derivatives through initiatives like its xStocks platform.

In addition, Kraken’s derivatives and market‑structure push includes stories on its U.S. derivatives rollout, the Small Exchange acquisition, and Deutsche Börse’s $200 million stake in Payward.

SEC Chair Paul Atkins launches “Material Matters,” with Hester Peirce and Mark Uyeda using the debut to pitch a more pro‑innovation crypto stance and clearer rulemaking.

The U.S. Securities and Exchange Commission has rolled out “Material Matters with SEC Chairman Paul Atkins,” a new official podcast the chair says will give the public “an inside look at the SEC’s vital work and its implications for our economy.” The first episode, released on April 15, features Commissioners Mark Uyeda and Hester Peirce outlining 2026 priorities.

SEC leans into ‘Material Matters’ and innovation messaging

Peirce told Atkins that “we do want to make this the place where people want to innovate whether it’s in crypto or something else,” adding that the SEC must “send the message to people that we will work with you when there are ambiguities about how the law applies.” She acknowledged there have been “a lot of ambiguities in connection with crypto which is a new technology that does things in new ways,” language that echoes her long‑standing push for more open, “predictable” rules rather than case‑by‑case enforcement.

Uyeda, who has previously criticized what he called a “disaster” approach to digital assets under former chair Gary Gensler, used the new platform to argue that the SEC needs to refocus on its statutory mission rather than sprawling rule‑sets and headline‑driven crackdowns. In earlier remarks, he pledged to abandon the “full‑throttle, broad‑scope regulatory approach” of the prior era in favor of “a slower more traditional approach to rulemaking,” signaling that crypto is now more likely to be handled through transparent processes than surprise lawsuits.

The podcast arrives on top of a structural reset that began when Uyeda, then acting chair, created an agency‑wide Crypto Task Force in January 2025 and asked Peirce to lead it. According to that announcement, the group’s mandate is “developing a comprehensive and clear regulatory framework” for crypto assets and moving away from an enforcement‑first strategy that had produced “confusion about what is legal” and “an environment hostile to innovation and conducive to fraud.”

Peirce’s task force quickly repealed the controversial Staff Accounting Bulletin 121, which had made it difficult for U.S. banks to custody digital assets on their balance sheets, and rolled out a 10‑point roadmap to address token classifications, disclosures and exchange registration. In parallel, President Donald Trump signed an executive order titled “Strengthening American Leadership in Digital Financial Technology,” instructing agencies, including the SEC, to support “responsible growth and use of digital assets, blockchain technology, and related technologies” to secure U.S. leadership.

Indeed, that shift has already translated into concrete changes such as downsizing the SEC’s dedicated crypto enforcement unit, pausing high‑profile cases against exchanges like Binance and Coinbase, and convening public roundtables on token rules instead of litigating them first. Opinion pieces on the new U.S. focus on tokenization‑friendly accounting have framed the emerging regime as an attempt to combine investor protection with a clear path for tokenized assets and crypto companies to build onshore, a goal “Material Matters” now appears designed to sell directly to both markets and voters.

Social media platform X has already generated roughly $1 billion in trading volume from its new Cashtags feature, which allows users to view stock and crypto data directly from the app.

In a post to X on Friday, the company’s head of product, Nikita Bier, said the estimated $1 billion in trading volume was reached after launching on Tuesday night, citing data aggregated from X’s trading pilot.

Based on aggregated data from our trading pilot, X has driven a estimated $1 billion in trading volume globally since launching on Tuesday night. https://t.co/TimRE4U37S

— Nikita Bier (@nikitabier) April 17, 2026

The new feature — currently only available to US and Canadian users on iPhones — is part of Elon Musk’s vision of turning X into an “everything app,” including peer-to-peer payments and e-commerce.

X sees more than 550 million users each month, positioning it as one of the largest social media platforms globally and giving it the ability to compete with established financial information providers in delivering market-related content and data.

Cashtags allow users to select a specific asset or smart contract address when posting a ticker, and tapping a tag displays live price charts and related posts.

Online brokerage Wealthsimple partnered with X to integrate the Cashtag feature, enabling Canadians to click on crypto and stock tickers and be taken directly to its trading platform.

The Cashtags feature hasn’t been integrated with a US brokerage yet.

X Money is coming too

Musk’s company also has X Money in the pipeline, a peer-to-peer payments system that seeks to offer yield-bearing accounts, a cashback debit card and other perks.

X rolled out an external beta of X Money in early March, showing payments between Musk and Hollywood actor William Shatner, who played Captain Kirk in the original Star Trek series.

Related: X mulls new rules for first-time crypto posts amid tortoise scam

The integration of crypto payments into X Money remains a mystery, however.

Over the last few years, X has secured money transmitter licenses in over 40 US states and registered with the Financial Crimes Enforcement Network to make peer-to-peer payments possible on the platform.

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