Amsterdam-based euro stablecoin project Qivalis has secured backing from 37 European banks, including BNP Paribas, ING, UniCredit, ABN AMRO, Intesa Sanpaolo and Rabobank.
According to the Financial Times, Amsterdam-based euro stablecoin project Qivalis has secured backing from 37 European banks, including BNP Paribas, ING, UniCredit, ABN AMRO, Intesa Sanpaolo and Rabobank. The project aims to promote euro stablecoin adoption and counter the dominance of U.S. dollar stablecoins in the crypto market, where the vast majority of the roughly $320 billion in circulating stablecoins are dollar-denominated. — link