Dutch central bank grants Qivalis an electronic money institution license
Dutch central bank grants Qivalis e-money license for MiCA-compliant euro token
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The Dutch central bank has granted Qivalis, backed by 37 European banks, an electronic money institution license, bringing it closer to issuing euro-denominated electronic money tokens. Qivalis still needs to publish a white paper and meet other MiCA requirements, and plans to distribute the tokens through banks, cryptocurrency exchanges and payment service providers in the coming months. Under MiCA, holders of electronic money tokens can redeem them at par at any time, and the tokens may not pay interest.
The material sets out the license, the remaining MiCA requirements and the distribution channels, helping readers distinguish between obtaining a license and the formal issuance of stablecoins in the regulatory process.
Source:CoinDesk · coindesk.com