HomeCryptocurrency NewsQivalis wins Dutch approval for planned euro stablecoin

Qivalis wins Dutch approval for planned euro stablecoin

Posted: 14 October 2026, 15:37 CET 1 min read

Qivalis received authorization from the Dutch central bank to operate as an electronic money institution, clearing a regulatory hurdle for its planned euro stablecoin.

Amsterdam-based Qivalis has received Electronic Money Institution (EMI) authorization from De Nederlandsche Bank, bringing the European banking consortium closer to issuing its planned euro-denominated stablecoin.

The authorization places Qivalis under the Dutch central bank’s ongoing supervision and makes it eligible to issue euro-denominated electronic money tokens. The company expects to begin issuance in the coming months.

Qivalis must still meet applicable requirements under the Markets in Crypto-Assets Regulation (MiCA) and publish a white paper before issuing the token. The authorization does not mean the stablecoin is already available.

The planned token would be used as a euro-denominated on-chain settlement asset. The stablecoin market is dominated by U.S. dollar-based tokens. Tether’s USDt has a market capitalization of about $183 billion, representing more than 60% of the approximately $303 billion total market, according to DefiLlama data.

“We believe Europe should have a euro-denominated on-chain settlement asset issued under European law and subject to European regulatory standards,” Qivalis CEO Jan-Oliver Sell said.

In May, Qivalis added 25 banks from 15 countries, increasing the number of participating institutions to 37.

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