AllUnity, a joint venture backed by Galaxy Digital, has received an EMI license from the German Federal Financial Supervisory Authority (BaFin), opening new opportunities for stablecoin growth.
EMI License from BaFin
The license from BaFin allows AllUnity to issue a fully regulated Euro stablecoin, compliant with the Markets in Crypto-Assets Regulation (MiCAR).
Euro-Backed Stablecoin EURAU
The EURAU stablecoin will be 100% collateralized and designed for 24/7 instant transactions. It aims to provide transparency for institutional clients through proof-of-reserves.
Stablecoin Regulation in the EU and U.S.
The regulation of stablecoins in Europe and the U.S. is pursuing different paths. While the EU has implemented the MiCAR regulation, a stablecoin oversight bill, known as the GENIUS Act, is under discussion in the U.S.
The acquisition of the BaFin license marks a significant step for AllUnity and could greatly influence the development of Euro-backed stablecoins in the European financial market.
