Dutch Central Bank approves Qivalis e-money institution license, plans MiCA-compliant euro stablecoin

PANews reported on October 14, citing CoinDesk, that the Dutch central bank has granted Amsterdam-based company Qivalis an electronic money institution (EMI) license, allowing it to issue euro-denominated electronic money tokens compliant with the EU'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-pegged euro stablecoin in the coming months for on-chain euro settlement infrastructure. Before the official issuance, Qivalis still needs to meet the remaining MiCA requirements, including publishing a whitepaper. The token will be distributed mainly through banks, crypto exchanges and payment service providers, rather than directly to consumers. After obtaining the license, Qivalis will be subject to ongoing supervision by the Dutch central bank.