Qivalis Secures EMI License from Dutch Central Bank to Launch Euro-Denominated Stablecoin
Amsterdam-based Qivalis has obtained Electronic Money Institution (EMI) authorization from the Dutch central bank, De Nederlandsche Bank (DNB), bringing it closer to launching a euro-denominated stablecoin. The license subjects Qivalis to ongoing supervision and enables issuance of euro electronic money tokens. The company aims to begin issuance in the coming months, complying with Markets in Crypto-Assets Regulation (MiCA) requirements and following publication of its white paper.
License Acquisition and Issuance Plans
Qivalis announced receiving the Electronic Money Institution (EMI) license from the Dutch central bank, a significant regulatory milestone toward launching a euro-based stablecoin. The license authorizes the company to issue electronic money tokens denominated in euros and subjects it to ongoing supervisory oversight by De Nederlandsche Bank (DNB). Qivalis aims to start issuing its stablecoin within the coming months, contingent on compliance with the Markets in Crypto-Assets Regulation (MiCA) and after publishing its white paper.
Market Context and Banking Support
Qivalis targets the euro stablecoin market, currently overshadowed by US dollar stablecoins like Tether (USDT), which commands around $183 billion—over 60% of the $303 billion stablecoin market. CEO Jan-Oliver Sell emphasized the importance of having a euro-denominated on-chain settlement asset governed by European laws and regulatory standards. In May, Qivalis expanded support to 37 banks across 15 countries, adding 25 new banking partners.
Why it matters
This news matters as obtaining the EMI license from the Dutch central bank marks a crucial step toward regulated issuance of a euro-denominated stablecoin. Amid the overwhelming dominance of USD stablecoins in the market, Qivalis proposes a European on-chain settlement asset that can strengthen financial infrastructure within the EU and address demand for digital euros. The expansion of banking support further underlines the seriousness and scale of Qivalis’ project in the European crypto space.
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