The Dutch central bank has granted Amsterdam-based Qivalis an electronic money institution (EMI) license, authorizing the issuance of euro-denominated tokens compliant with the EU's Markets in Crypto-Assets Regulation (MiCA). Backed by 37 major European banks including BBVA, BNP Paribas, ING, and DZ Bank across 15 countries, Qivalis plans to launch a 1:1-pegged euro stablecoin in the coming months to serve as on-chain euro settlement infrastructure. Before official issuance, Qivalis must fulfill remaining MiCA requirements, including publishing a whitepaper. The token will be distributed primarily through banks, crypto exchanges, and payment service providers rather than directly to consumers. Following this approval, the company remains subject to ongoing supervision by the Dutch central bank.