AllUnity has launched EURAU, a euro denominated stablecoin that complies with the EU’s Markets in Crypto Assets regulation. The joint venture, backed by Deutsche Bank’s asset management arm DWS, Galaxy and Flow Traders, received an E-Money Institution license from German regulator BaFin earlier this month.
The 1:1 backed stablecoin targets cross border payments and corporate treasury applications, focusing on fintechs, enterprises and institutions. Institutional crypto trading firm Bullish EU became the first to use EURAU for bitcoin and USDC trading pairs, with AllUnity backer Flow Traders serving as the designated market maker.
“As the first euro-denominated stablecoin issued under Germany’s regulatory framework and fully aligned with MiCAR, EURAU is designed to meet the highest standards of transparency, compliance, and trust, setting a new benchmark for digital money in Europe,” said Alexander Höptner, CEO of AllUnity.
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