In a groundbreaking move, AllUnity, a venture capital firm based in Germany, announced the launch of the country’s first regulated euro stablecoin, EURAU.
The project garnered the support of prominent institutions like Deutsche Bank’s DWS Group, Dutch market maker Flow Traders, asset management firm Galaxy Digital, crypto platform BitGo, Metzler Bank, Tradevest Group, DLT Finance, Fireblocks, V-Bank, 21X, Hacken, Softstack, OAK Security, and others.
One of the investors, Flow Traders, will ensure liquidity for the project and facilitate smooth market functioning as the designated market maker.
AllUnity’s latest achievement comes on the heels of the platform receiving an E-Money Institution (EMI) approval from the German Federal Financial Supervisory Authority (BaFin) earlier this month.
Europe Gets a Digital Boost with EURAU
The launch of the EURAU stablecoin marks a significant milestone for the European financial sector, according to Alexander Höptner, CEO of AllUnity.
According to the AllUnity’s announcement, EURAU is approved under the European Markets in Crypto-Assets Regulation (MiCA) framework. It is designed to facilitate instant cross-border settlements between regulated financial institutions, fintech companies, and enterprise clients across the European region and beyond.
Starting today, EURAU will be live on the Ethereum blockchain, with ERC-20 compatibility ensuring broad wallet and protocol support. The token will initially trade against BTC and USDC, laying the groundwork for extensive market integration and future growth on multiple blockchain networks.
Höptner commented, “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.”
Germany Advances in the Crypto Sector
Recent developments indicate that Germany has quite a favourable stance on crypto. For instance, DekaBank, one of the prominent banks in the country, expanded its services to include institutional crypto trading. The German bank with over $370 billion in assets announced that it will allow institutional clients, like pension funds, insurance companies, and family offices, to trade and store their crypto assets on the platform.
In another development, pharmaceutical company Evertz Pharma GmbH became the first German company to add Bitcoin to its reserves after it acquired 100 BTC.
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