Deutsche Bank Affiliate Collaborates with Galaxy Digital and Partners to Unveil Innovative Euro Stablecoin

Deutsche Bank’s asset management arm is partnering with Galaxy Digital and Flow Traders to launch a Euro-pegged stablecoin through their joint venture, AllUnity. 

This collaboration, highlighted in a recent press release by DWS Group, combines strengths in portfolio management, liquidity provisioning, and technical infrastructure. AllUnity aims to provide a regulated EUR-denominated stablecoin for institutional, corporate, and private users. The incorporation is scheduled for April 2024. Aligning with the European Union’s new MiCAR laws. 

This regulatory landscape aims to offer enhanced protection for market participants, contributing to improving clarity in the EU’s digital asset space. Galaxy Digital’s CEO, Mike Novogratz, expresses excitement about the collaboration. Emphasizing Europe’s leading role in the exploration of secure digital money. And the natural evolution of the global payment system toward digital currencies.

Clever Robot News Desk 14^th December 2023