European banking consortium Qivalis received Electronic Money Institution (EMI) authorization from the Dutch central bank (DNB), bringing it closer to issuing a euro-denominated stablecoin. This license subjects it to ongoing supervision by the central bank and makes it eligible to issue euro-denominated electronic money tokens. The Amsterdam-based company plans to begin issuance within the coming months, subject to applicable MiCA requirements and the publication of its white paper. Qivalis is seeking to introduce a euro-denominated stablecoin into a market largely dominated by US dollar-based stablecoins, with Tether USDt accounting for over 60% of the total $303 billion stablecoin market.
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