Euro stablecoin project gains backing of 37 banks

TL;DR

Euro stablecoin project gains backing of 37 banks By Elizabeth Howcroft and Jesús Aguado PARIS, May 20 (Reuters) - Twenty-five more banks, including lenders ABN Amro and Sabadell, have joined a European consortium planning to launch a euro-pegged cryptocurrency later this year, the group said on Wednesday. The consortium - which set up an Amsterdam-based company called Qivalis last year - now has 37 financial institutions as members, including ING, BNP Paribas and BBVA, from 15 countries. The project is framed as a way to counter U.S.