Qivalis receives EMI authorization from Dutch central bank for euro stablecoin

Qivalis receives EMI authorization from Dutch central bank for euro stablecoin

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

European banking consortium Qivalis received Electronic Money Institution (EMI) authorization from the Dutch central bank, bringing it closer to issuing a euro-denominated stablecoin.

The Amsterdam-based company revealed the license from De Nederlandsche Bank (DNB) in a Wednesday announcement shared with Cointelegraph.

Qivalis said the EMI license subjects it to ongoing supervision by the central bank and makes it eligible to issue euro-denominated electronic money tokens.

The approval clears a key regulatory hurdle, bringing Qivalis closer to issuing its euro-denominated stablecoin under the Markets in Crypto-Assets Regulation (MiCA).

The company plans to begin issuance within the coming months, subject to applicable MiCA requirements and the publication of its white paper.  Qivalis is looking to introduce a euro-denominated stablecoin into a market largely dominated by US dollar-based stablecoins.

Tether USDt’s (USDT) $183 billion market capitalization accounts for over 60% of the total $303 billion stablecoin market, according to DefiLlama.

“We believe Europe should have a euro-denominated on-chain settlement asset issued under European law and subject to European regulatory standards,” said Jan-Oliver Sell, CEO of Qivalis.

In May, Qivalis added 25 new banks across 15 countries, expanding to a total of 37 institutions backing it.

Related: Standard Chartered expands Bitcoin and Ether trading to professional investors in UAE Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.

Analiz: Piyasa hareketliliği devam ediyor.