A new euro stablecoin, EURAU, has been launched in Germany on the Ethereum blockchain. The project is backed by several major financial institutions.
Launch of EURAU
The company AllUnity, formed with the support of Deutsche Bank, DWS, and Galaxy, announced the launch of EURAU on the last day of July. The new stablecoin is regulated by Germany's Federal Financial Supervisory Authority (BaFin) and complies with the European Union's Markets in Crypto-Assets Regulation (MiCA).
First Exchange for EURAU
Bullish Europe, a BaFin-regulated cryptocurrency trading platform, will be the first exchange to offer EURAU for trading. The company has received four licenses from BaFin and plans to expand under the MiCA framework.
Euro Stablecoin Market
With the launch of EURAU, euro-denominated stablecoins account for about 0.2% of the $272.9 billion global stablecoin market, significantly lower than their US counterparts. Analysis shows that since late 2024, the market capitalization of euro stablecoins has increased by 60%.
The launch of EURAU highlights efforts to develop euro stablecoins, which, despite their current small volume, show growth and a drive to improve positions amid the dominance of US dollars.
