Dutch Regulator Grants Qivalis Electronic Money License for Euro Token

The Dutch central bank has granted Qivalis an electronic money institution license, advancing a planned euro stablecoin backed by a consortium of European banks as the issuer works to meet the European Union’s crypto rules.

Qivalis still must complete other requirements under the Markets in Crypto-Assets Regulation (MiCA), including publishing a white paper, before it can issue the token. The consortium plans to launch it in the coming months.

Rather than distribute the token directly to consumers, Qivalis plans to work through banks, cryptocurrency exchanges and payment service providers.

The license marks a step toward a regulated euro-denominated stablecoin, but issuance remains contingent on the outstanding MiCA requirements.