Pan-European stablecoin effort expands to 37 lenders in push back against U.S. dollar dominance
CoinDesk
The Qivalis consortium has expanded to 37 European banks to develop a regulated euro stablecoin and challenge U.S. dollar dominance in digital finance.Summary
The Qivalis initiative has grown to 37 financial institutions across 15 European countries, aiming to launch a regulated euro-backed stablecoin by late 2026. By aligning with the EU's MiCA framework and seeking licensure, the group seeks to provide a viable digital euro alternative to U.S. dollar-denominated tokens like USDT and USDC, which currently dominate the market. This effort is seen as a strategic move to bolster European autonomy in the global digital economy and facilitate institutional tokenized finance.
(Source：CoinDesk)