AllUnity receives BaFin e-money license for EURAU.
Fully collateralized, MiCA-compliant with proof-of-reserves.
Targets EU institutions, fintechs, IoT payments.
A joint venture named AllUnity, formed by Deutsche Bank’s asset manager DWS, market maker Flow Traders, and crypto firm Galaxy, has secured approval from Germany’s financial watchdog, BaFin, to issue a euro-based stablecoin, EURAU, under the EU’s MiCA framework. This marks the first time a euro-denominated token is being launched under German regulation.
What Stage Are We At?
Though discussions began as far back as December 2023, the project has officially crossed a critical milestone with BaFin granting a license as an electronic money institution. After over a year of preparation, AllUnity is now poised to roll out a fully collateralized stablecoin backed 1:1 with euro reserves held in German bank accounts.
JUST IN: Deutsche Bank’s DWS, Galaxy, and Flow Traders to launch Germany-regulated euro stablecoin under MiCA rules. pic.twitter.com/TOZHBNSiFu
— Cointelegraph (@Cointelegraph) July 2, 2025
Institutional-Grade Transparency and Utility
EURAU will prioritize transparency: it’s 100% collateralized and will offer proof-of-reserves and regulatory reporting to assure users of its peg’s integrity. Its key uses include:
24/7 instant settlements across borders
Integration for regulated banks, fintechs, treasuries, and enterprise clients across Europe
Why It Matters
This development follows the EU’s rollout of MiCA, which encourages issuance of regulated stablecoins. Though dollar-pegged alternatives like EURC and EURCV exist, EURAU marks Germany’s first fully licensed entry, and the first from a consortium blending traditional finance, market making, and crypto expertise.
Alexander Höptner, AllUnity CEO, noted that the BaFin license is foundational in building a “secure, transparent and compliant digital cross‑border payment ecosystem for Europe and global markets.”
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