Euro-Pegged Stablecoin Wins Support From Three Dozen Banks

Euro-pegged stablecoin project Qivalis has reportedly picked up the support of 25 new banks. That brings the total number of lenders backing the effort to 37, the Financial Times (FT) reported Wednesday (May 20). As the report points out, this is happening as executives and policymakers grow increasingly worried about the implications of the dollar’s dominance of the cryptocurrency market.