Qivalis names Olga Elsenga as chief risk officer ahead of euro stablecoin launch

Qivalis has appointed former ClearBank Europe legal chief Olga Elsenga as chief risk and compliance officer, effective Oct. 1, 2026, as the Amsterdam company moves toward Dutch regulatory authorization and a planned launch later this year. The hire adds board-level oversight for risk, compliance and supervisory engagement as Qivalis pursues a regulated euro-denominated stablecoin backed 1:1 by reserves.

Why it matters: - Qivalis is building a regulated euro-denominated stablecoin for institutional and other use cases, so risk controls and compliance will shape whether the product earns trust with banks, regulators and users. - The company is pursuing authorization as an Electronic Money Institution from the Dutch Central Bank, a key step before launch. - The stablecoin is designed to be backed 1:1 by reserves held at regulated custodians and separated from Qivalis’s own balance sheet. - Elsenga will oversee risk management, regulatory compliance and supervisory engagement, which are core functions for a regulated digital-money product.

What happened: - Qivalis appointed Olga Elsenga as chief risk and compliance officer, effective 1 Oct. 2026. - Elsenga joins the Management Board and will be based in Amsterdam. - Her appointment comes as Qivalis moves toward regulatory authorization and a planned launch later in 2026. - Qivalis was established by 37 European banks across 15 countries to issue the euro stablecoin. - The company’s management team also includes CEO Jan-Oliver Sell, CFO Floris Lugt and COO Marco Hinz.

The details: - Elsenga most recently served as head of legal at ClearBank Europe. - At ClearBank Europe, she joined during the build-out and authorization phase before the Dutch Central Bank and the European Central Bank granted the bank’s license. - She also led the MiCA notification with the Dutch Authority for the Financial Markets. - Before ClearBank Europe, Elsenga was a management board member at Global Collect Services, part of Worldline. - In that role, she had senior responsibilities across legal, compliance and risk. - Elsenga has more than 20 years of experience across fintech, banking and payments. - She holds a Master of Laws from the University of Groningen. - She also completed the Programme for Supervisory Board Members at the Erasmus Governance Institute, Erasmus University Rotterdam.

Between the lines: - Qivalis is signaling that governance is not an afterthought but part of the product architecture. - Hiring an executive with direct experience in bank authorization and regulatory engagement suggests the company expects a high bar from supervisors. - The move also reflects the broader market reality that euro stablecoins will need strong controls, reserve discipline and compliance to compete with more established digital-payment rails. - Jan-Oliver Sell said compliance is built into the design from day one, and that Elsenga brings experience translating regulatory requirements into durable structures. - Elsenga said euro-denominated on-chain payments need trust, resilience and regulatory compliance from the outset, and that Qivalis’s institutional ambition attracted her.

What’s next: - Qivalis will continue pursuing authorization as an EMI with the Dutch Central Bank. - The company is working toward its planned launch later in 2026. - Elsenga will now help manage the regulatory path, supervisory discussions and compliance framework ahead of launch. - Qivalis’s next milestones likely center on authorization, reserve governance and launch readiness.

The bottom line: - Qivalis is betting that experienced banking-grade compliance leadership will be as important as the stablecoin itself.