Latest news with #AllUnity
Finextra
2 days ago
- Business
- Finextra
AllUnity secures BaFin EMI Licence to launch Euro stablecoin
AllUnity, a joint venture between asset manager DWS, market maker Flow Traders, and blockchain firm Galaxy, has been granted an E-Money Institution (EMI) licence by the German Federal Financial Supervisory Authority (BaFin) 0 The approval of the licence clears the way for the release of Allunity's a fully regulated, MiCAR-compliant Euro stablecoin, named Eurau. The stablecoin will be 100% collateralized and can be used for 24/7 instant cross-border settlements, with seamless integration for regulated financial institutions, fintechs, and enterprise clients internationally. Stefan Hoops, CEO of DWS, says: 'The E-Money Institution (EMI) licence is not only a milestone for AllUnity but also marks an inflection point for the European financial industry as it enables the issuance of the first fully regulated EUR stablecoin out of Germany. "While we celebrate this as a landmark moment for AllUnity, DWS and its JV partners, we also believe that bringing the euro on the blockchain represents a foundational building block for the future of the European financial and real economy, creating a gateway to Europe and a more efficient financial system.' Elsewhere in the European stablecoin space, digital asset trading platform Assetera is to adopt the MiCA-compliant EURØP stablecoin from for client use when buying and selling security tokens. Issued by Schuman Financial under the supervision of the French ACPR, EURØP is fully backed by Euro reserves held in regulated European banks. Martin Bruncko, founder & CEO, Schuman Financial, says: 'Assetera proves that real-world assets can trade at blockchain speed; what they needed was cash that moves the same. EURØP perfectly fills the gap as fully redeemable, MiCA-grade euros that clear in seconds. By joining forces, we're turning the idea of a euro-denominated capital market on-chain into reality.'
Yahoo
3 days ago
- Business
- Yahoo
Deutsche Bank's DWS, Galaxy, Flow Traders Venture to Introduce German-Regulated Stablecoin
A joint venture between Deutsche Bank's (DBK) asset management subsidiary DWS, Flow Traders and Galaxy (GLXY) said it will issue Germany's first regulated, euro-denominated stablecoin after receiving an e-money institution (EMI) license from the Federal Financial Supervisory Authority (BaFin) this week. The AllUnity EURAU stablecoin, which will comply with Europe's Markets in Crypto Assets (MiCA) framework, was teased by the companies back in December 2023. EURAU will be 100% collateralized and deliver institutional-grade transparency through proof of reserves and regulatory reporting, according to a release. The token can be used for 24/7 instant cross-border settlements, seamless integration for regulated financial institutions, fintechs, Treasuries (ERP) and enterprise clients across Europe and beyond, AllUnity said. The stablecoin joins a growing number of euro-pegged tokens, including those that have popped up since MiCA took effect about a year ago. They include Circle's (CRCL) EURC and Société Générale's (GLE) EURCV alongside MiCA-compliant dollar coins such as SocGen's USDCV and the Robinhood (HOOD)-backed Global Dollar USDG. Speaking about securing an EMI license from BaFin, Alexander Höptner, CEO of AllUnity said in a statement: "This license is not just a regulatory hurdle cleared, it's a foundational step towards building a truly secure, transparent and compliant digital cross-border payment ecosystem for Europe and global markets."CORRECT (July 2, 08:33 UTC): Changes tense in headline. Sign in to access your portfolio
Reuters
3 days ago
- Business
- Reuters
DWS venture gets German finance regulator's approval for euro stablecoin
FRANKFURT, July 2 (Reuters) - AllUnity, a joint venture that includes Deutsche Bank's ( opens new tab asset manager DWS ( opens new tab, said on Wednesday it had received a license by the German regulator BaFin to issue a euro stablecoin. The plans for the stablecoin have been in the works for more than a year. Stablecoins are digital tokens designed to keep a constant value and are backed by traditional currencies such as the U.S. dollar or euro.
The Star
3 days ago
- Business
- The Star
DWS venture gets German finance regulator's approval for euro stablecoin
FRANKFURT (Reuters) -AllUnity, a joint venture that includes Deutsche Bank's asset manager DWS, said on Wednesday it had received a license by the German regulator BaFin to issue a euro stablecoin. The plans for the stablecoin have been in the works for more than a year. Stablecoins are digital tokens designed to keep a constant value and are backed by traditional currencies such as the U.S. dollar or euro. (Reporting by Tom Sims, Editing by Miranda Murray)
Yahoo
3 days ago
- Business
- Yahoo
DWS venture gets German finance regulator's approval for euro stablecoin
FRANKFURT (Reuters) -AllUnity, a joint venture that includes Deutsche Bank's asset manager DWS, said on Wednesday it had received a license by the German regulator BaFin to issue a euro stablecoin. The plans for the stablecoin have been in the works for more than a year. Stablecoins are digital tokens designed to keep a constant value and are backed by traditional currencies such as the U.S. dollar or euro. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
