TLDR Tech / Crypto
Qivalis, a bank consortium-backed euro stablecoin to solve distribution
Despite the euro's global importance, euro stablecoins remain a rounding error compared to dollar-pegged tokens. The hard part is getting people to use euros. Qivalis, founded by a consortium of European banks including BNP Paribas, ING, UniCredit, CaixaBank, KBC, SEB, and Danske Bank, aims to address this by launching with built-in distribution through banks that already hold deposits, run payment infrastructure, and serve millions of customers across Europe. Once these banks put euro stablecoins into wide circulation, new use cases become possible, including instant cross-border payments, round-the-clock corporate treasury operations, and collateral that moves between counterparties outside banking hours.
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