A new stable coin has been added to the Crypto world: There are 3 giants behind it.

The world, especially indexed to the dollar and euro, is taking new steps every day in stablecoins. While many countries and jurisdictions are making positive moves regarding regulated stablecoins, the latest move has come from Europe.

Deutsche Bank's investment management company DWS, the Netherlands-based market maker company Flow Traders, and the crypto investment company Galaxy founded by Mike Novogratz are launching a euro-based stablecoin through their partnership called AllUnity.

The initiative has also received official licensing from Germany's financial regulator BaFin. The name of the stable coin to be issued by the initiative will be EURAU. EURAU will be issued with 100% euro collateral, and proof of reserves will be transparently disclosed regularly through reports.

"Transparent step in the cross-border payment ecosystem"

AllUnity CEO Alexander Höptner stated regarding EURAU, "This license is not only a way to overcome a regulatory barrier, but also a fundamental step in building a secure and transparent cross-border payment ecosystem for European and global markets."

This stable coin was first announced in December 2023. Among the Euro-based stable coins are Circle's EURC and the French bank Societe Generale's EURCV.

Tether has turned to other coins

As a reminder, the Tether company had terminated its support for EURT due to the MiCA process. The company's CEO, Paolo Ardoino, recently stated that the MiCA rules are "problematic." The firm indicated that it would now start supporting other companies' coins instead of directly issuing its own stable coins.

On this path, Tether announced that it would support Quantoz's EURQ stablecoin, a European-based payment and blockchain technology company.

Published: July 2, 2025 12:02 Last Updated: July 2, 2025 12:08