Dutch regulator grants Qivalis an EMI license for its 37-bank euro stablecoin

Qivalis has been approved as an electronic money institution under MiCA, allowing it to issue a euro-denominated stablecoin. Under MiCA, e-money tokens must be pegged to a single official currency, be issued by authorized credit institutions or e-money institutions, give holders a legal claim and redemption at face value, and cannot pay interest. CEO Jan-Oliver Sell said Europe should have a euro onchain settlement asset under European law. Qivalis will distribute through banks, exchanges and payment providers, not directly to consumers. The consortium has grown to 37 European banks, including BBVA, BNP Paribas, ING and DZ Bank, and selected Fireblocks for infrastructure.

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