Noticias

On October 14, 2026, it became known that Qivalis, representing the interests of a consortium of 37 European banks, received a license from the Central Bank of the Netherlands (DNB) to establish electronic money. This resolution is an important step towards the release of a euro-denominated stablecoin. However, obtaining a license does not mean that the token will be in circulation in the near future. Qivalis will have to fulfill the remaining requirements of the European MiCA regulation, including the publication of a technical document known as a white paper.

The consortium was founded in September 2025 and has expanded significantly since then. It consists of 37 banks from different European countries, including such major players as BBVA, BNP Paribas, ING and DZ Bank. To create the digital asset infrastructure, Qivalis chose Fireblocks. At the same time, the organization has not yet disclosed which banks will use the new token and what amounts of payments are planned to be carried out through it. This uncertainty leaves room for analysis and speculation.

It is planned that Qivalis will issue an electronic money token (EMT), the value of which is pegged to the euro. The token will be distributed not directly to retail users, but through banks, cryptocurrency exchanges, and payment providers. This approach makes it possible to integrate the tool into the existing financial infrastructure and make it convenient for institutional settlements.

Qivalis CEO Jan-Oliver Zell commented on the event, stressing that the European currency deserves European rules on the blockchain. According to him, Europe should have a euro-denominated onchain asset for settlements, issued in accordance with European legislation and regulatory standards. This position reflects the broader desire of European financial institutions to strengthen the role of the euro in digital payments and create an alternative to dollar-denominated stablecoins.

The MiCA regulation imposes a number of requirements on electronic money tokens. They are considered to be a type of stablecoins linked to one official currency. To issue them, you must obtain permission from a credit institution or an electronic money institution. Holders of such tokens should have the right to demand repayment at face value at any time. At the same time, issuers are prohibited from charging interest on these assets. These rules apply not only to the euro, but also to stablecoins pegged to the US dollar, such as the USDC, if they comply with EU requirements. Issuers who do not comply with the regulations cannot legally offer their tokens to the general public in the European Union.

The launch of Qivalis takes place against the background of an active discussion of the digital euro. The European Central Bank is looking for partners to test the central bank's digital currency using AI agents. This shows that Europe views digital assets as an important part of the future financial architecture.