Qivalis wins Dutch license, clearing path for euro stablecoin
The 37-bank consortium still needs to meet MiCA requirements, including publishing a white paper, before its planned launch in coming months.
Key takeaways
- The Dutch central bank granted Qivalis an electronic money institution license.
- Qivalis plans to issue its euro token in the coming months, subject to MiCA requirements.
Qivalis has received an electronic money institution license from the Dutch central bank, moving its planned euro stablecoin closer to launch. The consortium, backed by 37 European banks, still must meet European Union requirements under MiCA, including publishing a white paper.
Qivalis plans to issue the token in the coming months and distribute it through banks, crypto trading platforms and payment providers. Expansión reported that the consortium includes banks from 15 countries.
The consortium says the token will be backed one-to-one by cash deposits or high-quality liquid assets. Under MiCA, holders of electronic money tokens can redeem them at face value, and the tokens cannot pay interest.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
