Dutch central bank grants Qivalis e-money license for MiCA-compliant euro token
The Dutch central bank has granted Qivalis an electronic money institution license, allowing the consortium to move toward issuing a MiCA-compliant euro token. The initiative aims to provide a regulated, blockchain-based settlement asset for European banks and payment providers.
Why it matters
This development marks a significant step in the integration of traditional banking with blockchain technology under the EU's comprehensive MiCA regulatory framework.
The Amsterdam-based company said that the Bank of the Netherlands (DNB) had granted it an electronic money institution license. Qivalis must still meet the remaining requirements under the European Union’s Markets in Crypto-Assets (MiCA) regulation, including publishing a white paper, before issuing its token, which it plans to do in the coming months.
The Dutch license brings Qivalis closer to offering banks and payment companies a way to transfer euros using blockchain technology. The consortium’s size gives it access to a large banking network, although Qivalis has yet to reveal which members will use the token or how much money they expect to move through EMTs.
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