[Qivalis, backed by 37 European financial institutions and authorized by the Dutch Central Bank, plans to issue a euro stablecoin within months] Odaily Planet Daily reports that Qivalis, a joint venture comprised of 37 European financial institutions, has been authorized by the Dutch Central Bank to become an electronic money institution. Following the Central Bank's review of the white paper, it plans to issue a euro stablecoin within the coming months. This stablecoin will be backed 1:1 by reserves and will target institutional-grade applications such as payments, settlements, and tokenized assets.