stable coins
By Julie Binoche
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What the 37-Bank Network Actually Means. Building a stablecoin isn't just a tech problem. It's a trust problem.
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Regulatory Approvals Still Pending. The launch isn't done yet. Qivalis is still working through final regulatory approvals, which are…
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Where the Project Goes From Here. Integration and testing are the next phase. With 37 banks now in the network, Qivalis has to make…
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Qivalis just got a lot bigger. The euro stablecoin project added 25 new banks to its network, pushing total membership to 37 financial institutions spread across 15 countries —…
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That's a meaningful jump. Going from a handful of early backers to 37 banks in 15 countries puts Qivalis in a different category entirely.
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No details yet on which 25 banks joined.
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Building a stablecoin isn't just a tech problem. It's a trust problem. And that's basically why the bank count matters so much here.
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The project's goal, as Qivalis frames it, is to give the financial system a secure and efficient digital currency alternative. That's a broad mandate.
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And getting 37 of them into a single project suggests Qivalis found a model that's at least convincing enough to sign on to.
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It's worth noting that diverse participation — institutions from 15 different countries — probably also helps with the regulatory piece.
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See also: Ripple Lands 16th on CNBC Disruptor 50 as XRP Cross-Border Push Gains Ground
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The launch isn't done yet. Qivalis is still working through final regulatory approvals, which are needed before the stablecoin can go live.
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Unclear exactly where each approval stands or which regulators are involved. Qivalis hasn't specified.
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The regulatory environment for stablecoins in Europe has evolved considerably. The EU's Markets in Crypto-Assets framework — MiCA — created a clearer path for stablecoin issuers,…
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Still, getting 15 countries' worth of approvals lined up is no small task. It's the kind of thing that can push timelines.
The Currency Analytics
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