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. With the E-Money Institution (EMI) license, AllUnity intends to launch a regulated, euro-pegged stablecoin that adheres to the new regulatory framework. The project also involves US-based Galaxy Digital and aims to facilitate euro-denominated digital assets for regulated institutions, fintech platforms, and enterprise treasuries, with liquidity being provided by Amsterdam-based Flow Traders. This announcement arrives as Europe becomes a significant player in the global stablecoin arena, particularly after implementing MiCA regulations on December 30, 2024. In this evolving landscape, other players like Paxos and Circle are also launching MiCA-compliant stablecoins, further intensifying competition as the market adapts to the regulatory shifts.

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