Qivalis to Launch Euro-Backed Stablecoin with Support from 37 Banks
- Qivalis, a stablecoin initiative, is backed by a consortium of European banks.
- The project aims to issue its stablecoin later this year to enhance the euro’s position in tokenized finance.
- Currently, the initiative has expanded its support base to include a total of 37 lenders.
- This move is seen as a strategic effort to counter the dominance of the U.S. dollar in global finance.
The launch of Qivalis’s stablecoin represents a significant step for European banks in establishing a competitive digital currency ecosystem. By involving multiple lenders, this initiative aims to strengthen the euro’s role in tokenized finance and reduce reliance on the U.S. dollar.
With support from 37 lenders, Qivalis is set to issue its stablecoin later this year, marking an important development in Europe’s financial landscape.(Source)
