Dutch Central Bank grants Qivalis e-money license for MiCA-compliant euro token

Qivalis, a consortium backed by 37 major European banks including BBVA, BNP Paribas, ING and DZ Bank, received an Electronic Money Institutional approval from the Bank of the Netherlands (DNB). This license moves the Amsterdam-based company closer to issuing euro-denominated Electronic Money Tokens (EMTs), a regulated form of stablecoin, through banks, cryptocurrency exchanges, and payment providers in the coming months. Under the EU’s Markets in Crypto-Assets (MiCA) regulation, EMT holders can redeem tokens at face value but the tokens cannot pay interest; Qivalis must still publish a white paper before launch.