A significant event in the financial sector took place in Germany: BaFin granted a license for the launch of the first euro stablecoin, EURAU. This opens up new perspectives for transactions and institutional investments in Europe.
Obtaining EMI License in Germany
BaFin has issued the first license for a euro stablecoin under the MiCA framework, marking an important step in European digital finance. This compliant digital currency is designed to streamline institutional transactions and cross-border payments.
Collaboration and Institutional Support
The EURAU project is created through the collaboration of DWS, Deutsche Bank, Flow Traders, and Galaxy. The receipt of the EMI license ensures full regulatory compliance, setting a new standard for digital currencies in Europe.
Market Impact and Future of Euro Stablecoins
The launch of EURAU may alter the dynamics of euro-pegged stablecoins, including increased usage of Ethereum for euro transactions. According to Alexander Höptner, CEO of AllUnity: "Securing the EMI license from BaFin is a monumental achievement for AllUnity and a testament to our dedication to regulatory excellence."
The commercial implications of EURAU suggest facilitating cross-border transactions in a regulated manner, which could enhance financial security and trust among stakeholders in the European digital economy.
