As stablecoins spread rapidly in the B2B payments market, institutional barriers are cited as an obstacle. [Photo: Reve AI]

European banking consortium Qubalas has obtained an electronic money institution (EMI) licence from the Dutch central bank and will move ahead with issuing a euro-denominated stablecoin.

Cointelegraph recently reported that Qubalas plans to pursue issuance of a euro-denominated stablecoin within months.

But Cointelegraph said issuance requires meeting additional requirements under the European Union’s Markets in Crypto-Assets (MiCA) regulation and publishing a white paper.

Qubalas, which is headquartered in Amsterdam, will be subject to ongoing supervision by the Dutch central bank under the EMI licence. It also secured the qualifications to issue euro-denominated e-money tokens.

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#Qubalas #Dutch central bank #Cointelegraph #MiCA #Amsterdam
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