Summary
- AllUnity announced its plan to issue Germany's first regulatory-compliant euro-based stablecoin.
- This stablecoin will comply with MiCA regulations and will be fully backed by 100% collateral.
- AllUnity obtained an Electronic Money Institution (EMI) license, calling it a first step toward building a cross-border digital payment ecosystem.
AllUnity is set to issue Germany's first regulatory-compliant euro-based stablecoin. AllUnity is a joint venture involving DWS, a subsidiary of Deutsche Bank, Flow Traders, a cryptocurrency market-making firm, and Galaxy, a digital asset company.
According to CoinDesk on the 2nd (local time), AllUnity plans to launch EURAU, the first regulatory-compliant euro-based stablecoin in Germany. This stablecoin will comply with the MiCA regulations and will be backed 100% by collateral.
To this end, it has reportedly also obtained an Electronic Money Institution (EMI) license from the German Federal Financial Supervisory Authority.
Alexander Höptner, CEO of AllUnity, commented, "Securing this license marks a first step in building a cross-border digital payments ecosystem."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
