- 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.
