Euro stablecoin project Qivalis has secured the support of 37 banks

May 20th News, according to the Financial Times, Amsterdam-based Qivalis has secured the support of 37 European banks for its yet-to-be-launched stablecoin, including BNP Paribas, ING, and UniCredit. The additional 25 banks include ING, Intesa Sanpaolo, and Rabobank. This support for a single euro stablecoin project makes it the most backed stablecoin project by European supporters, as executives and policymakers grow increasingly concerned about the consequences of dollar dominance in the crypto market. Qivalis has applied for a license from the Dutch central bank, hoping to obtain it in the second half of this year and be ready for operation when the license is issued.