Qivalis secures Dutch e-money license for euro stablecoin launch

euro stablecoin — European banking consortium Qivalis has received Electronic Money Institution (EMI) authorization from the Dutch central bank, clearing a key hurdle to issue a euro-denominated stablecoin.

The Amsterdam-based firm announced the license from De Nederlandsche Bank on Wednesday. The authorization subjects Qivalis to ongoing supervision and makes it eligible to issue euro-denominated electronic money tokens under European law.

The company stated it plans to begin issuing its stablecoin within the coming months, pending final compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation and the publication of its white paper. This move aims to introduce a major euro-based settlement asset into a stablecoin market currently dominated by U.S. dollar offerings like Tether’s USDT.

CEO Jan-Oliver Sell emphasized the goal of providing a euro-denominated on-chain asset under European regulatory standards. The consortium, which expanded to 37 backing institutions earlier this year, is positioning itself as a regulated European alternative in the stablecoin sector.