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.
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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.

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