Qivalis Hires Elsenga as Chief Risk Officer

Netherlands-based stablecoin issuer Qivalis has appointed Olga Elsenga as its chief risk and compliance officer. Elsenga, who previously led ClearBank Europe’s legal function, brings over 20 years of experience in fintech, banking, and payments. Her appointment is effective immediately, as Qivalis prepares for its planned market debut later this year.

Qivalis aims to issue a 1:1-backed euro stablecoin, challenging the US dollar’s dominance in this space. The project, initially a collaboration between Danske Bank, ING, KBC, and Raiffeisen Bank International, began in 2023 and evolved into a nine-bank consortium by September 2025. The venture rebranded as Qivalis in December 2025 following the addition of BNP Paribas, marking a significant milestone in its growth. Today, it has expanded into a 37-bank consortium regulated by the Dutch Central Bank.

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Elsenga’s expertise includes leading ClearBank’s establishment and authorization process, including its MiCA notification with the Dutch AFM. She played a key role in working through the regulatory system during ClearBank’s launch phase. Earlier in her career, she held compliance leadership positions at Worldline Merchant Services for five years and served as legal counsel at NYSE Euronext and Citco Bank Europe.

Qivalis’ management board now includes Elsenga alongside CEO Jan-Oliver Sell (formerly of Coinbase Germany, where he oversaw operations), CFO Floris Lugt (ex-ING digital asset strategy), and COO Marco Hinz (previously CrossLend, where he held the same role). This team combines extensive experience in fintech, banking, and digital assets, positioning Qivalis for success in the euro stablecoin market.