Consortium Approach to Euro-Backed Stablecoins Can Build Trust — Market Talk
Banks joining together to build a stablecoin will drive skeptical investors to trust the digital asset, Commerzbank's Poonam Ahuja says. A consortium of 37 European banks intend to launch Qivalis--the continent's first regulated euro-backed stablecoin--before the end of 2026. Investors wary of stablecoins worry about counterparty risk and operational challenges, Ahuja says at the Digital Assets Week conference in London. A joint approach will encourage investment in the digital asset, as well as widening its distribution, Ahuja says. Banks are well-trusted and can leverage that trust to increase stablecoin adoption, Ahuja says. ([email protected])