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According to the Financial Times, Qivalis, headquartered in Amsterdam, has received support for its Euro stablecoin project from 37 European banks, including BNP Paribas, ING, and UniCredit Italy. New supporters include Dutch International Bank, Intesa Sanpaolo Bank, and Rabobank. Qivalis has applied for a license from the Dutch central bank and plans to obtain approval and prepare for operation in the second half of this year.