37 banks, one licence: the Qivalis euro stablecoin cannot launch yet

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.De Nederlandsche Bank authorised Qivalis as an electronic money institution on October 14, 2026; according to the company, 37 European banks from 15 countries stand behind the planned euro stablecoin. Qivalis may not issue the token yet, because the whitepaper required under the MiCA regulation is still missing.The Dutch central bank De Nederlandsche Bank granted the Amsterdam company Qivalis B.V. authorisation as an electronic money institution on October 14, 2026. Qivalis may therefore issue a euro-denominated e-money token, backed according to the company by 37 European banks from 15 countries. It is not yet allowed to issue the token, however: before the first issuance it still lacks the whitepaper that the MiCA regulation requires. For now, that means there is nothing to buy. What there is: a date, an authorisation and an unusually broad list of owners. This piece sets out what the licence means, which obligations remain open, and how to tell for yourself who is actually al...