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Qivalis Euro Stablecoin Secures Support From 37 European Banks, 25 New Backers

GateNews
Partnerships & Ecosystem

According to Financial Times, Qivalis, an Amsterdam-based euro stablecoin project, has secured support from 37 European banks today (May 20), including BNP Paribas, ING, and UniCredit. The newly added 25 banks include ING Bank, UBI, and Rabobank, making it the most-backed stablecoin project in Europe.

Qivalis has applied to the Dutch central bank for a license, targeting the second half of 2026 for approval and operational readiness. The move comes amid growing concerns among policymakers over dollar dominance in crypto markets.

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