European Banking Consortium Expands Qivalis to 37 Members Ahead of Euro Stablecoin Launch
Qivalis, a consortium of European banks based in Amsterdam, has expanded to 37 member institutions from 15 countries to develop a euro-denominated stablecoin as an alternative to dollar-dominated stablecoins. The initiative plans to launch a regulated stablecoin in the second half of 2024, subject to regulatory approval. Portuguese banks are notably absent from the project so far, though it includes major banks from Spain, France, Italy, and Nordic countries.