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Qivalis Expands Stablecoin Project, Aims for EU-Backed Digital Euro
Description
Qivalis, a European banking group, expands its stablecoin project with twenty-five new banks, aiming to launch a euro-backed stablecoin in the second half of next year. This move challenges the dollar-dominated stablecoin market and strengthens Europes push for a regulated digital euro, despite ECB reservations. Major banks like ABN AMRO and Rabobank join, with Spain leading the charge. Qivalis partners with Fireblocks for technology and security, emphasizing a European-governed digital euro infrastructure.
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