Dutch Central Bank Grants Qivalis E-Money License for Euro Stablecoin
Written with artificial intelligence.
The Dutch Central Bank has issued an electronic money institution (EMI) license to Amsterdam-based Qivalis, enabling the company to issue a euro-pegged stablecoin compliant with the EU's MiCA regulations. Supported by 37 major European banks, Qivalis plans to launch the stablecoin in the coming months after meeting remaining MiCA requirements.
License Granted
On October 14, PANews reported that the Dutch Central Bank has granted an electronic money institution (EMI) license to Qivalis, a company based in Amsterdam. This license permits Qivalis to issue electronic money tokens denominated in euros, compliant with the European Union's Markets in Crypto-Assets (MiCA) regulation.
Support and Coverage
Qivalis is backed by 37 prominent European banks, including BBVA, BNP Paribas, ING, and DZ Bank, spanning across 15 countries. The company is set to launch a euro stablecoin, pegged at a 1:1 ratio, aimed at facilitating on-chain euro settlement infrastructure.
Next Steps
Before the stablecoin can be officially issued, Qivalis must fulfill additional MiCA requirements, including the publication of a white paper. Distribution of the token will primarily occur through banks, cryptocurrency exchanges, and payment service providers, rather than directly to consumers. Following the license approval, Qivalis will also be subject to ongoing supervision by the Dutch Central Bank.