Dutch central bank clears Qivalis to issue e-money for euro stablecoin
DeFi & Yields ·
De Nederlandsche Bank has granted Qivalis B.V. authorization to issue, distribute and redeem electronic money, a step the company frames as one regulatory condition met on the path to a bank-backed euro stablecoin.
The approval took effect on October 13, 2026, and Qivalis disclosed it publicly the following day, according to defiprime.com. DNB's register lists the Amsterdam-based firm under relation number R203793, with company number 98235680 and legal entity identifier 724500LOOWQMIDXTS391, placing it under supervision as an electronic money institution pursuant to PSD2 and the Dutch Financial Supervision Act. All three permitted activities carry the same entrance date in the register, which was last refreshed at 04:02 on October 14.
The license itself does not put a token into circulation. Qivalis still needs to satisfy obligations under the Markets in Crypto-Assets Regulation and publish a white paper before any euro-denominated electronic money token can be issued, with the company targeting issuance within the coming months, per reporting from coindesk.com. That leaves a gap between what regulators have confirmed and what the public can verify: DNB's record attests to Qivalis's standing as an authorized entity, but no contract address, blockchain, reserve makeup or issuance size has been disclosed.
The stablecoin project sits behind a consortium of 37 European banks spanning 15 countries, including BBVA and BNP Paribas, based on details carried by wublockchain.xyz. Qivalis has said the token will rest on a full-reserve structure and reach the market through a B2B2X distribution approach, aimed at banks, exchanges and payment service providers rather than direct retail issuance.
Four distinct sources have corroborated the licensing news, underscoring that the EMI authorization is viewed as a meaningful but partial milestone. What remains unconfirmed is the white paper's content, the token's technical specifications, and the precise timeline for when the consortium's euro stablecoin will actually become redeemable by end users.