AllUnity, a joint venture formed by Deutsche Bank with its investment management arm DWS, digital asset firm Galaxy and market maker Flow Traders, is preparing to launch a MiCA-compliant euro stablecoin after receiving an electronic money institution (EMI) license from Germany’s financial regulator BaFin.
Deutsche Bank’s DWS Unit Launches German-Regulated Euro Stablecoin in Partnership with Galaxy and Flow Traders
The newly launched digital asset EURAU will be 100% collateralized and will provide institutional-level transparency. According to AllUnity, this transparency will be achieved through regular proof of reserves and regulatory reporting.
EURAU aims to deliver seamless integration for regulated financial institutions, fintechs, corporate treasury management (ERP) systems and corporations, enabling 24/7 seamless cross-border payments across Europe and beyond.
The initiative joins the ranks of euro-pegged stablecoin projects following the entry into force of the European Union’s Crypto Asset Markets Regulation (MiCA) framework.
In addition to EURAU, Circle’s EURC, Société Générale’s EURCV, and among dollar-based stablecoins, Société Générale’s USDCV and Robinhood-backed Global Dollar (USDG) are also on the market with licenses under MiCA.
AllUnity CEO Alexander Höptner, drawing attention to the importance of the EMI license, said: “This license is not just a regulatory hurdle to overcome, it is the foundation of a secure, transparent and regulatory-compliant digital payment infrastructure for European and global markets.”
AllUnity’s stablecoin initiative aims to provide a decentralized finance (DeFi)-compatible, regulated and enterprise-friendly alternative to Europe’s digital payment infrastructure.
*This is not investment advice.
