Everyone around us is increasingly talking about stablecoins. Another important news was added to the list of these conversations. On July 1, a joint venture between DWS (a division of Deutsche Bank), Flow Traders, and Galaxy called AllUnity received a license from the German Federal Financial Supervisory Authority (BaFin). This opened up the possibility of issuing EURAU stablecoins pegged to the euro, which will operate according to EU law on cryptocurrencies Markets in Crypto-Assets Regulation (MiCA).
The AllUnity E-Euro (EURAU) will be 100% collateralized from the moment of issue and will have institutional level transparency through confirmation of reserves and regulatory reporting. The EURAU can be used for instant cross-border settlement 24/7, seamless integration for regulated financial institutions, fintech companies, treasury bonds (ERPs) and corporate clients across Europe and beyond.
Earlier this week, Paxos announced the launch of the Global Dollar (USDG) stablecoin under MiCA in the EU.
The day before Kraken crypto exchange has received permission to operate in all 30 member states of the European Economic Area (EEA) thanks to the MiCA license granted by the Central Bank of Ireland. This will allow the exchange to offer a wider range of fully regulated products, including trading, derivatives and payment solutions.
Source: AllUnity
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