Euro stablecoin project Qivalis has received support from 37 banks
ChainCatcher news, according to the Financial Times, Amsterdam-based company Qivalis has secured the support of 37 European banks—including BNP Paribas, ING Group, and UniCredit—for its yet-to-be-launched stablecoin. The additional 25 banks include ING, Intesa Sanpaolo, and Rabobank.
As executives and policymakers grow increasingly concerned about the consequences of the US dollar's dominance in the crypto market, the support garnered by this single euro stablecoin project makes it the stablecoin project with the most backers in Europe. Qivalis has applied for a license from the Dutch central bank, hopes to obtain it in the second half of this year, and is working to be prepared for operations when the license is issued.
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