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Euro stablecoin project Qivalis has received support from 37 banks.

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ME News message: May 20 (UTC+8). Qivalis, headquartered in Amsterdam, has obtained the backing of 37 European banks, including BNP Paribas, ING Group, and UniCredit, for its stablecoin that has not yet been launched. The newly added 25 banks include ING Bank, UniCredit Banca, and Rabobank. As executives and policymakers become increasingly concerned about the consequences of the U.S. dollar’s dominance in the crypto market, the support secured by this single euro stablecoin project makes it the stablecoin project with the highest number of backers in Europe. Qivalis has applied to the Dutch central bank for a license, hoping to obtain it in the second half of this year and to be ready to operate when the license is issued. (Source: PANews)
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