Qivalis Launches Euro Stablecoin on Ethereum

The Qivalis consortium, made up of 37 partner banks, will launch a euro stablecoin by the end of the year. This stablecoin will benefit from a European inter-bank status, unlike others that are tied to a single bank. Its deployment on the Ethereum blockchain has been officially announced by Ethereum's institutional account, which describes Qivalis as a consortium developing a regulated euro stablecoin under MiCA. This choice of a public blockchain aims to attract liquidity, users, and DeFi markets. Currently, the stablecoin market is dominated by those pegged to the dollar, representing about 99.5% of a total of $300 billion. Qivalis's stablecoin could also benefit from a new standard for confidential and regulatory tokens currently being studied on Ethereum.

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