Authorized by the Dutch central bank and backed by 37 European financial institutions, Qivalis plans to issue a euro stablecoin within months

Odaily: Qivalis, a joint venture comprising 37 European financial institutions, has been authorized by the Dutch central bank to become an electronic money institution and plans to issue a euro stablecoin within the coming months after the Dutch central bank reviews its white paper. The stablecoin will be backed by 1:1 reserves and targeted at institutional use cases such as payments, settlement, and tokenized assets.