Qivalis Wins Dutch Central Bank Authorization, Plans Euro Stablecoin Launch Within Months

Qivalis, a joint venture backed by 37 European financial institutions, has been authorized by the Dutch central bank to operate as an electronic money institution and plans to issue a euro stablecoin in the coming months. According to Odaily, the launch is planned after the central bank reviews the white paper; the stablecoin will be backed by reserves at a 1:1 ratio and target institutional uses including payments, settlement and tokenized assets.