According to CoinMeta, qivalis, the chief executive officer of a European stablecoin issuer, Jan - Oliver Sell, stated that the trade financing supply chain is transitioning towards stablecoins. Over the past year, the company has grown to about 40 employees and has partnered with 37 European banks. The firm is currently applying for a license from the Dutch Central Bank emi and plans to launch a regulated euro stablecoin service by the end of the year.