AllUnity, a three way partnership between DWS, Galaxy and Circulation Merchants, has launched EURAU, a euro-denominated stablecoin permitted beneath Germany’s new crypto laws.
EURAU is claimed to be the primary euro-backed stablecoin to be issued beneath the EU’s Markets in Crypto-Belongings Regulation (MiCAR) and licensed as digital cash by Germany’s BaFin. The token, issued on Ethereum as an ERC-20 asset, is designed for monetary establishments, fintechs, and company purchasers needing regulated, instantaneous cross-border euro funds.
AllUnity has partnered with a consortium of European banks to behave as reserve custodians. This construction goals to fulfill regulators and establishments searching for transparency, supported by routine proof-of-reserve disclosures.
The token debuts with buying and selling pairs BTC/EURAU and USDC/EURAU on Bullish Europe, a BaFin-regulated digital asset change. Circulation Merchants will present liquidity because the market maker. (Bullish can be the proprietor of Coindesk.)
Backed by names like BitGo, Metzler Financial institution and Fireblocks, EURAU indicators a broader push to embed regulated stablecoins into Europe’s monetary infrastructure. AllUnity’s CEO, Alexander Höptner, referred to as the launch a step towards “monetary sovereignty” in a digital Europe.