Qivalis Receives Dutch Central Bank EMI License to Launch Euro‑Backed Stablecoin

• Qivalis obtains an EMI authorization for its euro‑stablecoin, marking the first phase of MiCA compliance.
• The consortium now includes 37 banks across 15 European countries.

Qivalis, a joint venture digital‑asset infrastructure project supported by a coalition of 37 European banks, has been granted an Electronic Money Institution (EMI) license by De Nederlandsche Bank (DNB). This regulatory approval underpins Qivalis’s efforts to introduce a euro‑pegged stablecoin under the EU’s Markets in Crypto Assets (MiCA) framework.

Qivalis Announces EMI License Approval From the Netherlands

Qivalis disclosed the milestone on Wednesday, describing the license as a pivotal step toward launching its euro stablecoin within the MiCA regulatory environment.

The company emphasized that this development represents only a portion of the EU’s comprehensive digital‑asset regulations, which have challenged even major industry players such as Binance, MEXC, HTX, and Tether.

Holding an EMI license enables Qivalis to issue e‑money and digital payment services under DNB’s oversight. Nonetheless, the firm still faces additional regulatory requirements to fully meet MiCA standards, including establishing asset‑segregation mechanisms, integrating with the Single Euro Payments Area (SEPA) infrastructure, filing passporting notifications, and addressing other compliance obligations.

A Growing Consortium

Qivalis was initially launched by a nine‑bank European consortium, comprising Banca Sella, CaixaBank, Danske Bank, DekaBank, ING, KBC, Raiffeisen Bank International, SEB, and UniCredit.

Membership expanded to 12 banks by the first half of the year and surged to 37 banks spanning 15 countries within months.

The project’s core objective is to deliver a 1:1 euro‑backed stablecoin, granting members immediate access to integrate the digital asset across custody services, digital wallets, payment platforms, and related crypto offerings.

The Qivalis token aims to address the pronounced shortage of euro‑denominated stablecoins, which currently represent a negligible share of the market where US dollar‑based options dominate with nearly 99 % of global flows.

The broader stablecoin sector now holds a combined market capitalization of $315.69 billion, with over 81 % concentrated in Tether’s USDT ($184 billion) and Circle’s USDC ($73 billion). Euro‑stablecoins remain marginal, totaling less than $700 million in valuation.

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