Qivalis has been authorized by the Dutch Central Bank to issue a euro stablecoin

A joint venture consisting of 37 European financial institutions, Qivalis has been authorized by the Dutch Central Bank to become an electronic money institution and plans to issue a euro stablecoin within the next few months after the Dutch Central Bank reviews its white paper.

The stablecoin will be backed by a 1:1 reserve and is aimed at institutional scenarios such as payments, settlements, and tokenized assets.