CoinDesk
Qivalis has onboarded 37 European banks in the past year and is close to securing an Electronic Money Institution license in the Netherlands. CEO Jan-Oliver Sell says the euro-pegged stablecoin issuer aims to go live with a regulated token by year-end. The company has grown from one employee to about 40.
Why it matters
Sell says trade finance supply chains are increasingly using stablecoins for payments, with some transactions moving between counterparties without converting back to fiat. In one example, he described a supplier in East Africa trading with a buyer in Kazakhstan using stablecoins. That can let collateral rotate in minutes rather than days, he said.
Earlier blockchain efforts focused on digitizing trade documents and instruments such as letters of credit, Sell said, but lacked an on-chain payment leg. Stablecoins provide that missing cash movement, potentially connecting transaction records and settlement in the same digital workflow.
Market impact
Qivalis is positioning a euro-pegged option in a stablecoin market dominated by dollar-linked tokens. Sell argues that European businesses need euro-denominated settlement, while other regions may prefer tokens tied to their own currencies. That points to a multi-currency stablecoin market rather than one built solely around the dollar.
The project’s bank onboarding and expected Dutch EMI license are important milestones, but its planned launch remains ahead. Sell also cited Europe’s MiCA framework as a source of regulatory clarity, while suggesting some US bank-led stablecoin groups may take longer to reach launch. Adoption in trade finance will depend on regulated tokens gaining practical use across businesses and counterparties.
Frequently asked questions
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How many European banks has Qivalis onboarded?
Qivalis has onboarded 37 European banks in the past year, according to CEO Jan-Oliver Sell.
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What license is Qivalis seeking in the Netherlands?
Qivalis is close to securing an Electronic Money Institution license from the Dutch Central Bank.
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How could stablecoins change trade finance settlement?
Sell says stablecoins can allow counterparties to settle without off-ramping to fiat, helping collateral rotate in minutes rather than days.
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Why does Qivalis see demand for a euro-pegged stablecoin?
Sell argues that European businesses need euro-denominated settlement, while other regions may prefer stablecoins tied to their own currencies.
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What was missing from earlier blockchain trade-finance efforts?
Sell says earlier efforts digitized documents and instruments such as letters of credit but lacked an on-chain payment leg. Stablecoins can provide that payment function.
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