Germany will soon launch the country’s first regulated stablecoin, pegged to the euro. The issuance will be handled by AllUnity, a company created by Deutsche Bank (through its subsidiary DWS), Flow Traders, and Galaxy. The project has already received an electronic money institution (EMI) license from the Federal Financial Supervisory Authority (BaFin).
This is reported by Business • Media
Advantages and Features of the EURAU Stablecoin
The EURAU stablecoin will comply with the recently adopted European regulation on Markets in Crypto-Assets (MiCA). The company emphasizes that the asset will be fully backed by reserves, and transparency for users and regulators will be ensured through regular reports on reserves and strict adherence to regulatory standards.
According to the developers’ vision, EURAU will serve as a tool for instant 24/7 cross-border transactions and will be integrated into the infrastructure of regulated financial institutions and fintech platforms not only in Europe but also beyond.
Impact on the Crypto Market and Official Position
“This license is not just a regulatory hurdle overcome. It is a fundamental step towards creating a truly safe, transparent, and compliant digital payment ecosystem for Europe and global markets.”
This was commented by AllUnity’s CEO Alexander Heptner regarding the receipt of the EMI license from BaFin.
Previously, the Bank for International Settlements published information about the potential risks that stablecoins may pose to the global financial system.