Qivalis Receives Electronic Money Institution Authorization from the Dutch Central Bank, Plans to Issue EUR Stablecoin Within Months

AT A GLANCE

Qivalis has obtained authorization from the Dutch central bank and plans to issue a 1:1 reserve-backed EUR stablecoin within a few months.

Article

Ripple: Qivalis, backed by 37 European banks, plans to issue a EUR stablecoin within months

BlockBeats news, November 10, according to Ripple's official blog, Qivalis, an Amsterdam-based joint venture composed of 37 major European financial institutions, has been authorized by the Dutch central bank to become an electronic money institution, clearing the core regulatory hurdle for issuing a EUR stablecoin under the EU's Markets in Crypto-Assets Regulation MiCA, and plans to complete issuance within the coming months after the Dutch central bank reviews the white paper. The stablecoin is backed by 1:1 reserves and targets institutional-grade scenarios such as payments, settlement, and tokenized assets. The alliance initially had 12 founding banks and now covers 37 institutions across 15 countries.

Ripple said the EUR stablecoin market cap grew from about 50000000 EUR in early 2024 to 450000000 EUR in January 2026, while the USD stablecoin market is about 300000000000 USD. Qivalis will be responsible for minting, reserve backing, and redemption under its own authorization and technology, while member banks still need to decide for themselves how to custody the asset for clients. Ripple said alliance members including BBVA and DZ BANK already use Ripple Custody. Ripple Vice President and Managing Director Cassie Craddock said that as MiCA takes effect in Europe, banks in the region are more confident in launching digital asset services requested by clients. According to the introduction, DZ BANK has about 350000000000 EUR in assets under custody and has integrated Ripple Custody into its existing custody processes, with early use cases including custody of Siemens tokenized bonds; BBVA, after Spain's MiCA framework took effect in July 2025, launched crypto asset trading and custody in its Spanish business, a service previously launched in Switzerland and Turkey, with the bank itself safeguarding clients' asset keys.

Original link https://m.theblockbeats.info/flash/376399

Key points

Qivalis is composed of 37 major European financial institutions and is an Amsterdam-based joint venture.
Qivalis has been authorized by the Dutch central bank to become an electronic money institution.
Qivalis plans to issue a EUR stablecoin in the coming months after the central bank of the Netherlands reviews the white paper.
The stablecoin is planned to be backed by 1:1 reserves and is intended for institutional-grade scenarios such as payments, settlement, and tokenized assets.
The alliance initially had 12 founding banks and currently covers 37 institutions in 15 countries.
Ripple said that the EUR stablecoin market capitalization increased from approximately 50000000 EUR at the beginning of 2024 to 450000000 EUR in January 2026.
Qivalis will be responsible for minting, reserve backing, and redemption, while member banks will decide on their own how to custody the asset for clients.
Alliance members, including BBVA and DZ BANK, have used Ripple Custody.
DZ BANK has integrated Ripple Custody into its existing custody processes, with early use cases including the custody of Siemens tokenized bonds.
BBVA has launched crypto asset trading and custody in its Spanish operations.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

A stablecoin is a digital asset that is typically pegged to the value of fiat currency. The plan here is to issue a stablecoin backed by EUR reserves at a 1: 1 ratio; authorization from the relevant authorities has already been obtained, but the issuance still needs to await the whitepaper review.

Why it matters to readers

If the plan proceeds as reported, a new EUR stablecoin solution will emerge for institutional use cases such as payments, settlement, and tokenized assets; the report also mentions that the relevant banks have already used Ripple Custody.

Focus on two things: authorization does not equal having been issued, and the reserve, redemption, and custody arrangements of stablecoins.

Risks and unknowns

The outcome of the Dutch central bank's review of the white paper has not yet been clarified.
Qivalis's official launch date, token code, and reserve disclosures have not yet been clarified.
The report did not specify whether the actual issuance was ultimately completed.
The information comes from BlockBeats' retelling of Ripple's official blog.

Qivalis Receives Electronic Money Institution Authorization from the Dutch Central Bank, Plans to Issue EUR Stablecoin Within Months

Article

AI-assisted interpretation

Why it matters to readers

Risks and unknowns

Related Developments

Related concepts

Keep following

Security Center