Qivalis Secures Dutch License for Proposed Euro Token

Qivalis has obtained permission from the Dutch central bank, De Nederlandsche Bank, to operate as an electronic money institution, according to CryptoNews. The Amsterdam-based company announced the regulatory authorization on October 14, 2026.

The proposed euro token is backed by 37 financial institutions across 15 European countries. While the authorization removes a key regulatory hurdle under the Markets in Crypto-Assets regulation, the token does not currently exist in circulation, and issuance remains subject to the publication of a MiCA white paper.

Distribution and Intermediaries

Qivalis plans to issue the electronic money token within months. The issuer's distribution model relies on a business-to-business-to-x approach, depending on banks, exchanges, payment service providers, and market infrastructure firms to put the token to work.

According to CryptoNews, having 37 bank backers does not automatically create 37 active distribution channels. Each participating institution must establish commercial agreements and operational systems to handle issuance, redemption, custody, and reconciliation.

Redemption and Market Credibility

Under MiCA provisions, electronic money token holders retain the right to redeem at par against the issuer at any time. Qivalis stated that the token will be fully reserved and serve institutional payment and settlement.

However, analysts note that legal redemption at par and practical same-day cash access depend on intermediary workflows, cutoff hours, and banking holidays. The forthcoming white paper is expected to clarify reserve composition, operational chains, and customer redemption procedures.

Key facts

• Qivalis announced De Nederlandsche Bank authorization as an electronic money institution on October 14, 2026.
• The proposed euro token is backed by 37 institutions across 15 European countries.
• Qivalis does not currently issue electronic money or provide public payment services.
• Issuance is planned within months, subject to a MiCA white paper.