The subsidiary of Deutsche Bank — DWS — Flow Traders and Galaxy announced that their joint venture AllUnity plans to launch the first regulated stablecoin in Germany pegged to $EUR . This was reported by CoinDesk referencing an official statement.

The organization has already obtained an electronic money institution (EMI) license from the Federal Financial Supervisory Authority BaFin. The statement mentions that the stablecoin EURAU will comply with the European regulation Markets in Crypto-Assets (MiCA).

As noted by AllUnity, EURAU will be fully backed by reserves and will provide transparency at the institutional level through regular reserve reports and compliance with regulatory requirements.

The token is intended for 24/7 instant cross-border settlements, as well as for integration into the infrastructure of regulated financial institutions, fintech platforms, both in Europe and beyond.