The Electronic Money Institution license places Qivalis under ongoing supervision by De Nederlandsche Bank and authorizes Qivalis to issue euro-denominated electronic money tokens.

From the articleQivalis wins Dutch EMI license, but MiCA rules block launchAlso in EU Banking Consortium Qivalis Secures E-Money License to Accelerate Stablecoin Issuance, Qivalis secures Dutch EMI license to launch bank-backed euro stablecoin, Qivalis Receives EMI Authorization from Dutch Central Bank for Euro Stablecoin, Europe's banks have a euro stablecoin license. Can they win users?, Qivalis Secures Dutch Approval for Euro Stablecoin Backed by 37 European Banks