Qivalis, a European banking consortium backed by 37 financial institutions across 15 countries, has received authorization as an Electronic Money Institution from De Nederlandsche Bank, marking a significant regulatory milestone ahead of its planned euro-denominated stablecoin launch.
The approval places the Amsterdam-based company under the supervision of the Dutch central bank and establishes an important regulatory foundation for issuing electronic money tokens within the European Union.
Qivalis intends to develop a stablecoin backed one-to-one by the euro, providing financial institutions and businesses with a digital settlement asset designed for payments, cross-border transfers and blockchain-based financial transactions.
The company plans to begin issuing its euro-denominated token in the coming months, subject to applicable requirements under the European Union's Markets in Crypto-Assets Regulation and the publication of its white paper.
The consortium includes major European banks and financial institutions seeking to strengthen the euro's role in digital finance, particularly as US dollar-denominated stablecoins continue to dominate the global market.
The planned stablecoin is intended to support institutional payment activities, tokenized asset settlement and the transfer of funds through blockchain infrastructure while operating within European regulatory standards.
Jan-Oliver Sell, Chief Executive Officer of Qivalis, has emphasized the importance of developing a euro-based digital settlement system governed by European laws and regulatory requirements.
The authorization comes as financial institutions increasingly explore regulated stablecoins to improve payment efficiency and reduce reliance on traditional correspondent banking networks.
For European banks, a shared digital settlement asset could provide opportunities to streamline transactions involving multiple institutions, currencies and financial markets.
However, receiving an EMI licence does not mean the stablecoin has entered circulation. Qivalis must satisfy the remaining applicable regulatory and operational conditions before beginning issuance.
The development represents another step toward integrating blockchain-based payments into Europe's regulated financial system as banks and technology providers expand their digital asset capabilities.
