Qivalis secures Dutch EMI license for MiCA-compliant euro token
CIE News ·
The Dutch central bank granted Qivalis an electronic money institution license, according to CoinDesk. The 37-bank consortium plans to issue a MiCA-compliant euro electronic money token.
The Dutch central bank has granted an electronic money institution license to Qivalis, according to CoinDesk. The Amsterdam-based consortium, backed by 37 European banks including BBVA, BNP Paribas, ING, and DZ Bank, intends to use the license to issue euro-denominated electronic money tokens under the European Union's Markets in Crypto-Assets framework.
Qivalis said it still needs to fulfill outstanding MiCA regulatory obligations, such as publishing a white paper, before deploying the token. The organization plans to distribute the digital asset through cryptocurrency exchanges, banking partners, and payment providers instead of selling directly to retail consumers.
The consortium selected Fireblocks to provide its underlying digital asset infrastructure, CoinDesk reported. Qivalis has not disclosed which member banks will utilize the asset or the transaction volumes anticipated through the setup.