Europe’s 37-bank stablecoin push tests whether on-chain finance defaults to euros or dollars
The euro-denominated stablecoin consortium Qivalis has received backing from 37 banks across 15 countries, and the asset is planned to launch in the second half of the year. ING noted that stablecoins already serve wholesale cross-border payments and blockchain-based bond settlement, but most of that activity is denominated in US dollars, creating currency exposure for …
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