Pan-European stablecoin effort expands to 37 lenders to push back against U.S. dollar dominance

Qivalis, a stablecoin initiative backed by a group of European banks, aims to issue a stablecoin later this year to deepen the euro's role in tokenized finance.

Qivalis, a group of European banks building a regulated euro stablecoin, said Wednesday that 25 more lenders joined the initiative, more than tripling its membership as banks across the region deepen their push into blockchain finance.

The…