The consortium of 37 banks plans to issue the token in the coming months once it publishes a white paper and meets the requirements of the European Union's Markets in Crypto-Assets Regulation. The electronic money token is designed to operate within the MiCA regulatory framework to ensure compliance across the member states' financial systems.
Tuesday, October 20, 2026
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Qivalis Gets Dutch License for Euro Stablecoin Backed by 37 Banks
Crypto7 days ago
A group of European financial institutions has obtained authorization from the Dutch central bank to launch a digital version of the euro through its joint venture, Qivalis. The electronic money institution license allows Qivalis to issue a euro denominated token, which will be distributed through banks, cryptocurrency exchanges, and payment service providers rather than to consumers. Key backers of the venture include BBVA, BNP Paribas, ING, and DZ Bank, while Fireblocks will provide the digital asset infrastructure.
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