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Euro stablecoin project Qivalis has received support from 37 banks.

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ME News message: On May 20 (UTC+8), Qivalis, a company headquartered in Amsterdam, has secured support from 37 European banks, including BNP Paribas, ING Group, and UniCredit, for its stablecoin that has yet to be launched. The newly added 25 banks include ING Bank, Intesa Sanpaolo, and Rabobank. As executives and policymakers grow increasingly concerned about the consequences of the U.S. dollar’s dominance in the crypto market, this single euro stablecoin project has received support from the largest number of European backers among stablecoin projects. Qivalis has applied to the Dutch central bank for a license, hoping to obtain it in the second half of this year, and aims to be operationally prepared when the license is issued. (Source: PANews)
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