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Deutsche Bank's DWS Teams Up with Galaxy to Launch Germany's First Regulated Euro-Backed Stablecoin - EURAU
BlockBeats News, July 31st, according to Bloomberg, Deutsche Bank's DWS, in collaboration with Galaxy, has launched Germany's first regulated Euro stablecoin, EURAU. Deutsche Bank's asset management subsidiary DWS, Flow Traders, and Galaxy's joint venture AllUnity obtained an Electronic Money Institution (EMI) license from the German Financial Supervisory Authority (BaFin) at the beginning of the month, and announced the issuance of Germany's first regulated Euro stablecoin, EURAU. EURAU will fully comply with the European Markets in Crypto-Assets (MiCA) framework, be 100% backed, and provide institutional-grade transparency through reserve proof and regulatory reports. This stablecoin can be used for 24/7 instant cross-border settlements, enabling seamless integration for regulated financial institutions, fintech companies, and corporate clients in Europe and other regions.
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