DWS, Flow Traders, and Galaxy-backed AllUnity launch Euro stablecoin EURAU

PANews reported on July 31st that AllUnity, backed by Deutsche Bank's DWS Group, Dutch market maker Flow Traders Ltd., and financial services provider Galaxy Digital Inc., announced Thursday the launch of the euro-denominated stablecoin EURAU. The token is issued on the Ethereum blockchain and fully collateralized by the reserves of several European banks, complying with the EU's regulatory framework for crypto assets. The Bullish Exchange will be its first listing platform. AllUnity CEO Alexander Höptner stated that while AllUnity is initially promoting its application in the cryptocurrency market, the ultimate goal is to make it a widely used payment method for large enterprises. AllUnity is currently in discussions with 30 companies, but did not disclose the names of these companies. Earlier this month, AllUnity obtained an electronic money institution license from the German Federal Financial Supervisory Authority (BaFin) under the European MiCA, and subsequently launched EURAU.
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