Qivalis said De Nederlandsche Bank authorised it as an electronic-money institution. The decision gives the European banking consortium a regulatory base for its planned euro stablecoin. Qivalis is targeting a November launch, according to reporting by Cinco Días.
The consortium comprises 37 banks across 15 countries, Cinco Días reported. It plans to launch the stablecoin on Ethereum. Qivalis nevertheless says it is not yet issuing electronic money or providing payment services.
LICENCE PRECEDES PLANNED LAUNCH
The authorisation is a binding regulatory milestone rather than the product launch itself. It establishes Qivalis as an electronic-money institution under Dutch supervision. The consortium must still move from authorisation to live issuance and payment activity.
Qivalis disclosed the authorisation on its website, while Cinco Días independently reported the decision and the planned timetable. The group’s current notice preserves an important operational distinction: authorisation has been granted, but services have not started. No issuance volume was disclosed.
BANK CONSORTIUM PREPARES EURO TOKEN
The planned launch would bring together banks from 15 countries around a euro-linked digital instrument. Qivalis has selected Ethereum for the intended first deployment. The project remains at the pre-launch stage despite the licence.
The next milestone is the expected November launch. Confirmation that Qivalis has begun issuing electronic money or providing payment services will determine whether the authorised model has become operational. Until that occurs, the licence should not be described as a live stablecoin service.