AllUnity, a stablecoin joint venture by Deutsche Bank and DWS, has received a BaFin license in Germany to issue a MiCA-compliant euro stablecoin, EURAU. The company has been granted an E-Money Institution (EMI) license by BaFin, allowing it to issue a regulated euro-pegged stablecoin. EURAU is designed to feature institutional-grade financial reporting and aims to provide euro-denominated digital assets that integrate with the workflows of regulated institutions, fintech platforms, and enterprise treasuries, with Flow Traders acting as the liquidity provider. This regulatory approval comes at a time when Europe is becoming a crucial player in the stablecoin market, particularly following the implementation of the MiCA framework. Various other initiatives, such as Paxos and Circle's MiCA-compliant stablecoins, have also emerged recently, indicating a growing trend toward compliant stablecoin solutions in Europe. Despite these developments, USDt remains the largest stablecoin by market cap, highlighting the competitive landscape in which the new EURAU will enter.

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