The euro-pegged stablecoin project, Qivalis, has officially been granted permission by the De Nederlandsche Bank (DNB) to operate as an electronic money institution. This approval, announced on Wednesday, marks a significant regulatory milestone that enables Qivalis to issue euro-denominated electronic money tokens (EMTs).

CEO’s Vision for European Financial Autonomy

Jan-Oliver Sell, CEO of Qivalis, emphasized the importance of aligning the rules governing digital finance with European regulations. “Europe’s currency deserves Europe’s rules—on-chain,” Sell stated in a press release. He highlighted that this authorization moves Qivalis closer to creating a European-approved electronic money solution as financial operations increasingly transition to blockchain environments.

According to Sell, Europe necessitates a digital settlement asset based on euros, regulated under its own legal framework. He views this approval as pivotal in achieving that goal.

About Qivalis

Established in September 2025 and located in Amsterdam, Qivalis operates independently but benefits from support by 37 prominent banking institutions across 15 European nations. The company plans to implement a full reserve model for its euro-denominated tokens, focusing on building a robust payment and settlement system for institutional financial participants.

Distribution Strategy

Qivalis intends to adopt a business-to-business distribution framework, avoiding direct outreach to retail customers. The digital tokens will be offered through partnerships with commercial banks, financial exchanges, payment service providers, and market infrastructure operators.

Challenges and Market Dynamics

In related developments within the stablecoin sector, a recent PYMNTS report highlighted ongoing challenges in payments infrastructure, indicating that while stablecoins can reduce settlement delays, traditional financial systems still heavily influence transactions. The study revealed that 88% of firms receiving stablecoins immediately convert them into U.S. dollars.

Despite the increased potential for faster cross-border transactions, traditional financial practices persist. Companies still rely on banks for payroll processing and operate using conventional currencies for many transactions, as stated in the report.

PYMNTS noted that while the prospects for stablecoins are promising, financial leaders are still cautious, balancing innovation with established practices. For instance, Mastercard’s CEO, Michael Miebach, identified cross-border transactions as a key area for stablecoin application.