Qivalis Gets Dutch Bank Approval for Euro Stablecoins
Dutch central bank approves Qivalis to issue euro-denominated electronic money tokens.
In brief
Dutch central bank approves Qivalis to issue euro-denominated electronic money tokens. Qivalis, a stablecoin firm backed by 37 European banks, received Dutch central bank authorization to operate as an electronic money institution under a full reserve model. Originally reported by Pymnts.
Qivalis Receives Dutch Bank Approval
Dutch central bank authorizes Qivalis to operate as an electronic money institution under direct supervision.
“Europe’s currency deserves Europe’s rules, on-chain”
Qivalis CEO on European Rules
Qivalis CEO Jan-Oliver Sell states Europe should have euro-denominated on-chain settlement assets under European laws.
“With this authorization, Qivalis has taken a very important step towards issuing a euro-denominated EMT”
Qivalis Backed by 37 European Banks
Qivalis operates independently with backing from 37 major European banking institutions across 15 countries.
“Qivalis plans to issue its euro-denominated token under a full reserve model”
Qivalis Targets Institutional Users
Qivalis will distribute tokens through banks, exchanges, payment providers and market infrastructure operators.
“Qivalis intends to distribute the digital tokens through partners such as commercial banks, financial exchanges, payment service providers and market infrastructure operators”
Here's the gist
Qivalis, a stablecoin firm backed by 37 European banks, received Dutch central bank authorization to operate as an electronic money institution under a full reserve model.
