Qivalis adds 25 European banks to euro stablecoin consortium, Reuters reports

A consortium of European lenders building a euro-pegged stablecoin is scaling up as banks look for alternatives to US dollar-backed crypto payment rails. Qivalis said on 20 May it added 25 banks, lifting membership to 37 institutions across 15 countries. The move comes as USDT and USDC continue to dominate global stablecoin liquidity, while euro stablecoin circulation remains comparatively limited.