Qivalis secures Dutch EMI license to launch bank-backed euro stablecoin
Qivalis, a consortium backed by 37 European banks, received an electronic money institution license from the Dutch central bank, moving it closer to issuing a euro-denominated stablecoin. It still must meet MiCA requirements, including publishing a white paper, before its planned launch in the coming months. The token is intended for euro transfers and settlement via blockchain, distributed through banks, exchanges and payment providers. MiCA requires electronic money tokens to be issued by authorized institutions, be redeemable at face value and not pay interest. Qivalis has not disclosed which consortium members will use the token or expected transaction volumes. Its members include BBVA, BNP Paribas, ING and DZ Bank, and it has selected Fireblocks for digital asset infrastructure.
