AllUnity: A New Euro-Anchored Stablecoin
AllUnity is the name of a new stablecoin that will soon be launched by partners DWS, Galaxy, and Flow Traders. This stablecoin will be fully collateralized and regulated by BaFin, the German financial supervisory authority. The long-term mission of AllUnity is to accelerate the adoption of digital assets and tokenization in the mass market.
AllUnity: The Partners Behind the Project
Galaxy, DWS, and Flow Traders have announced their intention to establish AllUnity. Each partner brings unique skills to the project. DWS contributes portfolio management and product structuring capabilities, Flow Traders provides liquidity and connectivity in traditional and digital assets, and Galaxy offers innovative digital asset solutions.
The Launch of the Euro Stablecoin
The new Euro stablecoin signed by DWS, Galaxy, and Flow Traders will be launched in 12-18 months. This waiting period will give AllUnity greater regulatory clarity and align with the MiCA Regulation within the EU. AllUnity is also in the process of applying for an electronic money license at BaFin.
Société Générale’s Ethereum-Based Stablecoin
Société Générale’s crypto division, SG Forge, has introduced EUR CoinVertible (EURCV), a stablecoin anchored to the value of the euro but issued on the Ethereum blockchain. EURCV aims to bridge the gap between traditional European markets and crypto assets. BitStamp has become the first crypto-exchange to list EURCV.
Hot Take: The Rise of Euro-Anchored Stablecoins
The introduction of AllUnity and EURCV highlights a growing trend in the cryptocurrency industry – the rise of euro-anchored stablecoins. These stablecoins offer stability and convenience for European users looking to enter the crypto market without exposing themselves to market volatility. With regulatory compliance and the backing of established financial institutions, these stablecoins have the potential to drive mass adoption of digital assets in Europe.
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