BankingBusinessCrypto

DWS moves toward first German-regulated euro stablecoin

  • Company Launch: DWS, a German asset management firm, has launched a new company named AllUnity in collaboration with Flow Traders and Galaxy Digital.
  • Objective: The initiative aims to create the first German-regulated cryptocurrency, specifically a euro stablecoin.
  • Regulatory Approval: DWS plans to obtain a German e-money license from BaFin to regulate the stablecoin.
  • Market Impact: With DWS managing assets worth €941 billion, the move is significant for the European financial sector.
  • Stablecoin Benefits: CEO Stefan Hoops anticipates interest from digital asset investors initially, with future potential in industrial applications like continuous payments for ‘internet of things’ technology.
Previous article
Nala Secures $40M Series A to Develop B2B Payments Platform and Expand Remittance Services
Next article
Blockchain-powered clearing and settlement fintech Partior raises more than $60m in Series B funding
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Nium Launches Dual-Network Stablecoin Card Issuance Platform

New platform aims to streamline stablecoin card issuance and enhance user experience.Highlights: Nium unveils a new platform for...
FinTech

Wise Launches UK Current Accounts, Expanding Financial Services

The new accounts aim to simplify banking for UK customers.Highlights: Wise introduces current accounts to UK market.The new...
FinTech

Lloyds Bank Strengthens Research on AI Impact in Software Engineering

The collaboration aims to explore the future of technology in banking.Highlights: Lloyds Bank partners with the University of...
FinTech

Valt Bank Secures De Novo Bank Charter, Expanding Banking Options

New bank charter enables Valt Bank to offer innovative financial services.Highlights: Valt Bank has been granted its de...