Flow Traders has partnered with DWS and Galaxy to establish AllUnity, a collaborative effort to introduce a regulated EUR-denominated stablecoin.
The primary objective of this partnership is to explore opportunities within the on-chain economy by creating a fully collateralised stablecoin.
AllUnity’s core partners, Flow Traders, DWS, and Galaxy, each bring their expertise to the project. DWS contributes portfolio management and product structuring capabilities, Flow Traders brings liquidity provisioning experience, and Galaxy offers technical infrastructure.
Together, they aim to develop a regulated EUR-denominated stablecoin with potential applications for institutional, corporate, and private users. This initiative comes when the regulatory landscape for digital assets in the European Union is evolving, with the recent adoption of the Markets in Crypto Assets Regulation (MiCAR).
AllUnity plans to apply for an e-money license from BaFin, Germany’s financial supervisory authority, to launch the stablecoin within 12 to 18 months, contingent on regulatory approvals.
Alexander Höptner
Alexander Höptner, designated CEO of AllUnity said,
“The envisaged partnership between DWS, Flow Traders and Calaxy is unique. Their market reach and expertise will enable AllUnity to develop a go—to—market strategy for a viable EUR—denominated stablecoin in order to advance the on—chain economy.”
Featured image credit: Edited from Freepik
Comments