37 European Banks Back Regulated Euro Stablecoin via Qivalis

Thirty-seven of Europe’s largest financial institutions have committed to launching a regulated, euro-denominated stablecoin through Qivalis, an Amsterdam-based joint venture formed by a consortium of European banks. Qivalis has been authorized by De Nederlandsche Bank (DNB) as an electronic money institution, clearing the regulatory hurdle required to issue a euro stablecoin under the EU’s Markets in Crypto-Assets regulation (MiCA). The issuance is expected within the coming months, pending DNB’s review of the consortium’s white paper.