Dutch Central Bank grants Qivalis electronic money institution license, further advancing euro stablecoin issuance.

BlockBeats news, October 14: Qivalis, a consortium backed by 37 major European banks, has been granted an Electronic Money Institution (EMI) license by the Dutch central bank (DNB), bringing it closer to issuing a euro-denominated Electronic Money Token (EMT, a regulated form of stablecoin). The company still needs to meet remaining requirements under the EU's Markets in Crypto-Assets Regulation (MiCA), including publishing a whitepaper, and plans to distribute the token over the coming months through banks, crypto trading platforms, and payment service providers rather than directly to consumers.

Under the EU's MiCA framework, an EMT must be pegged to a single fiat currency and issued by an authorized credit institution or electronic money institution, redeemable at par value at any time by holders, and may not bear interest. Since its establishment in September 2025, the Qivalis consortium has expanded to include 37 European banks, including BBVA, BNP Paribas, ING, and DZ Bank, and has selected Fireblocks to provide digital asset infrastructure.