Ripple outlined custody requirements on Nov. 9 for banks that may handle Qivalis’ planned euro stablecoin. BBVA and DZ BANK already use Ripple custody technology for other digital assets, but each bank must decide whether to safeguard its customers’ holdings or delegate custody.
Qivalis has Dutch authorization as an electronic money institution, with issuance, distribution and redemption permissions effective Oct. 13. Its stablecoin has not been issued: Qivalis said its planned issuance remains subject to applicable EU crypto rules and publication of a white paper. Qivalis would handle issuance and redemption, while individual banks would set their own customer custody arrangements.
