Dutch central bank grants Qivalis e-money license for MiCA-compliant euro token
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
AI-generated summary based on the linked source; not independently verified. This is not investment advice. Verify market-moving details at the original publisher before acting. See our editorial policy, AI content policy, and financial disclaimer.
Summary
The Dutch central bank (DNB) has granted Qivalis, a consortium supported by 37 major European banks, an Electronic Money Institution license. This approval advances Qivalis toward issuing a euro-denominated electronic money token (EMT), a form of stablecoin compliant with the EU’s Markets in Crypto-Assets (MiCA) regulation. Qivalis still needs to fulfill additional MiCA requirements, including publishing a white paper, before launching its token.
Why it matters
The license enables Qivalis to offer a euro-backed stablecoin regulated under European law, providing banks and payment companies a blockchain-based method for transferring euros. This development supports the EU’s goal of having euro-denominated onchain settlement assets subject to European regulatory standards. The source does not further elaborate on the broader market or policy implications.
Key context
EMTs under MiCA are pegged to a single official currency and must be issued by authorized institutions, granting holders legal claims for redemption at face value without interest payments. The consortium includes 37 banks such as BBVA, BNP Paribas, ING, and DZ Bank. Qivalis plans to distribute its token through banks, crypto exchanges, and payment providers, not directly to consumers. Fireblocks will provide the digital asset infrastructure.
Key numbers and entities
Qivalis consortium, 37 European banks (including BBVA, BNP Paribas, ING, DZ Bank), Dutch central bank (DNB), Fireblocks (infrastructure provider), MiCA regulation. The consortium was founded in September 2025.
What remains unclear
The source does not specify which consortium members will actively use the token, nor the expected transaction volumes or timelines for meeting all MiCA requirements and actual token issuance. Details on the token’s technical design or use cases also are not provided.