Deutsche Bank’s DWS Group, Dutch market maker Flow Traders Ltd. and crypto fund manager Galaxy Digital Holdings Ltd. are planning to form a company to issue an euro-denominated stablecoin, with the goal of driving more mainstream adoption of tokenized assets.
Called AllUnity, the company will be based in Frankfurt and led by Alexander Höptner, a veteran exchange executive and the former chief executive of crypto platform BitMex, the firms said in a statement Wednesday. AllUnity plans to apply for an e-money license with Germany’s financial watchdog BaFin, with the intention of launching its fully collaterized stablecoin within the next 18 months.
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December 13, 2023 at 02:07PM
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DWS, Flow Traders and Galaxy Are Forming a Firm to Issue an Euro Stablecoin - Bloomberg
"flow" - Google News
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