[Alliance Qivalis, formed by 12 EU banks, plans to launch a euro stablecoin in the second half of this year] According to CoinDesk, Qivalis, established by 12 EU banks including ING, UniCredit, BNP Paribas, CaixaBank, and BBVA, is in deep discussions with multiple crypto exchanges, market makers, and liquidity providers. The alliance plans to launch a euro-pegged stablecoin compliant with MiCA regulations in the second half of this year, ensuring sufficient liquidity upon its initial release on regulated platforms. Qivalis stated that the stablecoin will be backed 1:1 by at least 40% bank deposits and the remainder in high-quality, short-duration eurozone sovereign bonds as reserves, with custody provided by multiple high-rated institutions. It will also support 24/7 redemption. The project is currently applying for authorization under the MiCA framework from the Dutch central bank, aiming to provide the eurozone with a regulated alternative to dollar stablecoins and a real-time cross-border corporate payment tool.