3 weeks ago
AllUnity, a associated task betwixt DWS, Galaxy and Flow Traders, has launched EURAU, a euro-denominated stablecoin approved nether Germany’s caller crypto regulations.
EURAU is claimed to beryllium the archetypal euro-backed stablecoin to beryllium issued nether the EU’s Markets successful Crypto-Assets Regulation (MiCAR) and licensed arsenic physics wealth by Germany’s BaFin. The token, issued connected Ethereum arsenic an ERC-20 asset, is designed for fiscal institutions, fintechs, and firm clients needing regulated, instant cross-border euro payments.
AllUnity has partnered with a consortium of European banks to enactment arsenic reserve custodians. This operation aims to fulfill regulators and institutions seeking transparency, supported by regular proof-of-reserve disclosures.
The token debuts with trading pairs BTC/EURAU and USDC/EURAU connected Bullish Europe, a BaFin-regulated integer plus exchange. Flow Traders volition supply liquidity arsenic the marketplace maker. (Bullish is besides the proprietor of Coindesk.)
Backed by names similar BitGo, Metzler Bank and Fireblocks, EURAU signals a broader propulsion to embed regulated stablecoins into Europe’s fiscal infrastructure. AllUnity’s CEO, Alexander Höptner, called the motorboat a measurement toward “financial sovereignty” successful a integer Europe.
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