TL;DR
Get hardware and tech essentials delivered free with Prime
- Fast, free delivery on millions of items
- Prime Video, Amazon Music and more included
- Member-only deals all year
The Dutch central bank granted Qivalis an electronic money institution license, advancing the bank-backed consortium’s plan to issue a euro-denominated token under EU rules. Qivalis still must meet remaining MiCA requirements, including publishing a white paper, before launch.
The Netherlands’ central bank has granted Qivalis an electronic money institution license, advancing the Amsterdam-based consortium’s plan to issue a euro-denominated token under the European Union’s Markets in Crypto-Assets regulation. The license does not itself authorize an immediate launch: Qivalis must still meet remaining MiCA requirements, including publishing a white paper.
Qivalis said the De Nederlandsche Bank (DNB) granted the approval. The consortium plans to issue an electronic money token, or EMT, and distribute it through banks, cryptocurrency exchanges and payment providers, rather than selling directly to consumers. It has said it aims to launch in the coming months, but the report does not give a specific date.
The Dutch license is one step in the regulatory process, not confirmation that all launch conditions have been met. Qivalis must still comply with applicable MiCA requirements, including publication of a white paper, before issuing the token. The report does not specify whether other requirements remain or when regulators will consider them satisfied.
Qivalis is backed by 37 European banks, including BBVA, BNP Paribas, ING and DZ Bank, according to the report. The consortium has also selected Fireblocks to provide digital-asset infrastructure. It has not disclosed which member banks will use the token or the expected volume of transfers.
A Bank-Backed Route for Euro Transfers
The license moves a proposed euro-based settlement instrument closer to market, potentially giving banks and payment firms a regulated way to move euros using blockchain technology. Qivalis’s backers include established financial institutions, but their participation in the consortium does not establish that every member will use the token or that customers will adopt it at scale.
For users and businesses, the relevant distinction is that a MiCA-compliant EMT is designed to represent a claim on its issuer, rather than being an unregulated digital asset. Under MiCA, holders of electronic money tokens have a right to redeem at face value at any time. EMTs cannot pay interest. The specific redemption arrangements, fees and practical access for Qivalis token holders were not detailed in the report.
The development also adds a euro-denominated proposal to a market in which dollar-linked stablecoins have been prominent. Whether Qivalis can attract banks, payment providers and customers will depend on its eventual product terms, distribution and use cases, none of which have been fully disclosed.
As an affiliate, we earn on qualifying purchases.
MiCA Rules and Qivalis’s Expansion
MiCA sets EU requirements for crypto-asset issuers and service providers. Under the rules described in the source report, an EMT is a stablecoin pegged to one official currency, such as the euro or U.S. dollar. Issuers must be authorized credit institutions or electronic money institutions, and qualifying tokens carry redemption rights. Other stablecoins may be linked to baskets of currencies or assets and do not necessarily fall into the EMT category.
Qivalis was founded in September 2025 and has since expanded its backing to 37 European banks, according to the report. Its selection of Fireblocks for digital-asset infrastructure is another disclosed part of the project. The current license marks progress from consortium formation toward issuance, but it does not confirm that the token is already available or being used for payments.
MiCA rules also apply to foreign-currency tokens offered in the EU. The report notes that dollar-backed tokens can qualify as EMTs if they meet EU requirements; issuers that do not meet applicable rules cannot lawfully offer their tokens to the public in the bloc.
“Europe’s currency deserves Europe’s rules, onchain.”
— Jan-Oliver Sell, Qivalis CEO
As an affiliate, we earn on qualifying purchases.
Launch Conditions and Users Still Unknown
The report does not establish when Qivalis will publish its white paper, how quickly the remaining MiCA requirements can be completed or the exact launch date. The company’s plan to issue the token in the coming months remains a stated timetable, not confirmation that issuance will occur by a particular date.
Qivalis has not named which of its 37 bank backers will use the token, identified specific payment partners, or disclosed projected transaction volumes. The report also does not provide details on the token’s operating terms, such as fees or the processes customers will use to redeem it. Those details will be needed to assess how the planned service would work in practice.
As an affiliate, we earn on qualifying purchases.
White Paper and Issuance Milestones
The next reported milestone is Qivalis meeting the remaining MiCA requirements, including publishing a white paper. That document and any subsequent company or regulatory updates should clarify the token’s design and the conditions under which it will be issued. Qivalis has said it intends to launch in the coming months, but the schedule depends on completing the outstanding steps.
Further announcements may also identify participating banks, exchanges and payment providers, and explain how users will obtain and redeem the token. Until those details and the launch are confirmed, the license should be understood as regulatory progress rather than evidence that the token is already in circulation.
As an affiliate, we earn on qualifying purchases.
Key Questions
What did the Dutch central bank approve?
DNB granted Qivalis an electronic money institution license. The approval advances its plan to issue a euro-denominated electronic money token but does not mean the token has launched.
Can Qivalis issue its token now?
Not based on the information reported. Qivalis still has to meet remaining MiCA requirements, including publishing a white paper, before issuing the token.
What rights do holders of a MiCA electronic money token have?
Under the rules described in the report, holders have a right to redeem the token at face value at any time. EMTs cannot pay interest under MiCA.
Who is backing Qivalis?
The consortium is backed by 37 European banks, including BBVA, BNP Paribas, ING and DZ Bank. The report does not say which members will use the token.
When is the token expected to launch?
Qivalis plans to issue it in the coming months, according to the report. No exact date is confirmed, and launch depends on completing the remaining regulatory requirements.
Source: rss
Halloween Picks
halloween
As an affiliate, we earn on qualifying purchases.
