PANews, October 14: According to CoinDesk, the Dutch Central Bank has granted Amsterdam-based company Qivalis an electronic money institution (EMI) license, authorizing it to issue euro-denominated electronic money tokens compliant with the European Union’s Markets in Crypto-Assets Regulation (MiCA). Qivalis is backed by 37 major European banks, including BBVA, BNP Paribas, ING, and DZ Bank, spanning 15 countries. The company plans to launch a 1:1 euro-backed stablecoin within the coming months for on-chain euro settlement infrastructure. Before official issuance, Qivalis must still fulfill remaining MiCA requirements, including publishing a whitepaper. The tokens will primarily be distributed through banks, cryptocurrency exchanges, and payment service providers, rather than directly to consumers.
Dutch Central Bank Grants Qivalis EMI License for MiCA-Compliant Euro Stablecoin
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Summary
The Dutch central bank has granted Qivalis an EMI license, allowing it to launch a euro-backed e-money token under the MiCA (EU Markets in Crypto-Assets Regulation) framework. Backed by 37 European banks, the project aims to create a 1:1 euro stablecoin compliant with stringent stablecoin regulations. The token will enable on-chain settlements and be distributed through banks and exchanges, subject to final MiCA requirements such as the publication of a white paper.
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