More than three dozen European banks have lined up behind a single euro stablecoin project, as executives and policymakers become increasingly concerned about the consequences of dollar dominance in the crypto market.
Amsterdam-based Qivalis had already secured the backing of some of Europe’s biggest banks including BNP Paribas, ING and UniCredit for its coin, which has yet to launch.
The addition of another 25 lenders — among them ABN Amro, Intesa Sanpaolo and Rabobank — takes the total number of banks to 37 and makes Qivalis’s stablecoin project Europe’s biggest by number of supporters.
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