European Banks Back Qivalis Euro Stablecoin Initiative

Qivalis has made significant progress in its efforts to launch a euro stablecoin, securing the support of 37 European banks. This development is seen as a crucial step towards increasing adoption of euro stablecoins across Europe and providing a safe and trusted digital payment option for users and businesses.

The project will be governed by financial and legal regulations, adhering to anti-money laundering checks and transaction monitoring systems. The stablecoin will be backed 100% with cash deposits and high-quality liquid assets, which will be under the care of regulated custodians.

Qivalis is emerging as one of the most backed stablecoin projects in Europe, reflecting growing confidence in digital currencies and traditional banks' willingness to take blockchain technology seriously. The project has the potential to transform digital payments in Europe and help reduce reliance on US dollar stablecoins.