German fintech start-up Unstoppable Finance plans to build Europe’s first fully regulated decentralised finance (DeFi) bank. The company aims to issue a fiat-backed euro stablecoin and offer a range of banking and financial services on both traditional and DeFi rails.
Facts
- Unstoppable Finance, the parent company of DeFi Wallet Ultimate, intends to develop Europe’s first fully regulated DeFi bank.
- The fintech firm plans to issue a fiat-backed euro stablecoin, following the guidelines of the EU’s new Markets in Crypto Assets (MiCA) regulation.
- The stablecoin will serve as a bridge between traditional finance and the decentralized economy, functioning as an e-money token.
- Peter Grosskopf, co-founder and CTO of Unstoppable Finance highlights the limitations of the current banking system and emphasizes the programmability and transparency provided by stablecoins.
- Unstoppable Finance was founded in 2021 by Peter Grosskopf, Maximillian von Wallenberg-Pachaly, and Omid Aladini.
- Grosskopf previously co-founded Solarisbank in 2016, which offers banking infrastructure and licensing for numerous European fintech and blockchain start-ups.
- Unstoppable Finance’s first product, the DeFi Wallet Ultimate, was launched in 2022.
