{"id":88275,"date":"2023-12-14T17:00:25","date_gmt":"2023-12-14T15:00:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88275"},"modified":"2025-09-13T17:00:12","modified_gmt":"2025-09-13T14:00:12","slug":"dws-galaxy-digital-and-flow-traders-to-launch-euro-denominated-stablecoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/dws-galaxy-digital-and-flow-traders-to-launch-euro-denominated-stablecoin\/","title":{"rendered":"DWS, Galaxy Digital and Flow Traders to launch euro-denominated stablecoin"},"content":{"rendered":"<p>The Deutsche Bank-founded DWS Group, market maker Flow Traders and Mike Novogratz&#8217;s Galaxy Digital <a href=\"https:\/\/www.galaxy.com\/newsroom\/galaxy-dws-flow-traders-allunity-regulated-eur-denominated-stablecoin\/\" title=\"\">will join forces<\/a> to launch<a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\"> stablecoin<\/a> pegged to the euro.<\/p>\n<p>The new organization will be named AllUnity \u2014 led by Alexander H\u00f6ptner, who has held roles at B\u00f6rse Stuttgart, Deutsche B\u00f6rse and as head of the cryptocurrency derivatives exchange BitMEX.<\/p>\n<p>The company has filed an application with <span data-descr=\"Germany's Federal Financial Supervisory Authority\" class=\"old_tooltip\">BaFin<\/span> for a license to operate as an electronic money institution with further compliance with <span data-descr=\"Markets in Crypto Assets\" class=\"old_tooltip\">MiCA<\/span>.<\/p>\n<p>GK8, the subsidiary of Galaxy Digital, will provide tokenization and custody technologies.<\/p>\n<p>AllUnity intends to become the primary infrastructure provider for secure on-chain settlement for institutional investors, corporations and private investors.<\/p>\n<p>The launch of the stablecoin is planned within the next 12-18 months after all necessary approvals.<\/p>\n<p>Earlier Circle <a href=\"https:\/\/www.circle.com\/en\/pressroom\/eurc-launches-on-the-stellar-network\" title=\"\">launched<\/a> the euro-denominated &#8216;stablecoin&#8217; EURC on the Stellar network. The asset initially received support<a href=\"https:\/\/forklog.com\/en\/news\/circle-unveils-euro-pegged-stablecoin-euro-coin\"> Ethereum<\/a> and<a href=\"https:\/\/forklog.com\/en\/news\/circle-launches-euro-pegged-stablecoin-euro-coin-on-avalanche\"> Avalanche<\/a>.<\/p>\n<p>Earlier the company also <a href=\"https:\/\/forklog.com\/en\/news\/circle-renames-its-stablecoins-to-usdc-and-eurc\">announced<\/a> the renaming of the stablecoins USD Coin and Euro Coin to USDC and EURC. The new names align with the tickers of the stablecoins.<\/p>\n<p>In December Bitstamp<a href=\"https:\/\/forklog.com\/en\/news\/bitstamp-lists-eur-coinvertible-stablecoin-from-societe-generale\">added to the listing<\/a> the stablecoin EUR CoinVertible. Its issuer is the third-largest French bank Soci\u00e9t\u00e9 G\u00e9n\u00e9rale.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Deutsche Bank-founded DWS Group, market maker Flow Traders and Mike Novogratz&#8217;s Galaxy Digital will join forces to launch a euro-denominated stablecoin.<\/p>\n","protected":false},"author":1,"featured_media":88276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1612,770,807],"class_list":["post-88275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-euro","tag-galaxy-digital","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=88275"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88275\/revisions"}],"predecessor-version":[{"id":88277,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/88275\/revisions\/88277"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/88276"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=88275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=88275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=88275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}