Dutch Central Bank Approves Qivalis E-Money Institution License, Euro Stablecoin Issuance Imminent

On October 14, according to CoinDesk, the Dutch Central Bank (DNB) has officially granted an Electronic Money Institution (EMI) license to Qivalis. Qivalis is a consortium backed by 37 major European banks including BBVA, BNP Paribas, ING, and DZ Bank, and is headquartered in Amsterdam. After obtaining the license, Qivalis still needs to fulfill the remaining requirements under the MiCA regulation (including publishing a whitepaper), and plans to officially issue euro-denominated Electronic Money Tokens (EMT) within the coming months. The token will be distributed through banks, cryptocurrency exchanges, and payment service providers rather than directly to consumers, aiming to provide blockchain-based on-chain settlement infrastructure in euros for the European banking sector.