37 European banks just launched Qivalis — their own euro stablecoin

$BBVA, $BNP Paribas, $ING backing it. Dutch central bank approved under MiCA. Live in months.

Every major stablecoin is dollar-pegged. Europe's done waiting for US rails.

Real question: public chain or permissioned? That's what separates real DeFi integration from TradFi theater.

Euro liquidity on-chain could flip the stablecoin game if they don't cuck it with KYC walls.