AllUnity’s EURAU stablecoin will be made available for institutional custody via Deutsche Börse’s Clearstream, which uses its subsidiary Crypto Finance as sub-custodian for digital assets. AllUnity was founded by Deutsche Bank asset manager DWS, Flow Traders and Galaxy, with the first MiCAR compliant EURAU stablecoin issued in late July, with a current market capitalization of Euro 16.13 million ($18.75m). In separate Deutsche Börse news, the stock exchange group is exploring acquiring fund distribution firm Allfunds (unrelated to AllUnity), which has €1.7 trillion in funds under administration. Its blockchain arm makes up a small part of the firm, but the tokenization of the fund sector is a key strategic shift.
AllUnity marks Deutsche Börse’s third stablecoin partnership, following earlier Deutsche Börse deals with Circle and Société Générale FORGE. “By partnering with Deutsche Börse Group, we are making on-chain cross border payments and digital assets accessible to institutional market participants in a secure and compliant way,” said Alexander Höptner, CEO of AllUnity.
The institutional custody relationship is the first step in potentially rolling out usage across the group. While the announcement didn’t explicitly mention what that would entail, Crypto Finance is a crypto exchange that is part of the group, and there is the institutional crypto trading venue 3DX which is part of 360T, Deutsche Börse’s FX trading venue. Some of the most interesting potential applications are in the mainstream and tokenization space, as highlighted by Clearstream’s Jens Hachmeister in a previous interview.
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