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The joint venture AlUnity has launched a German-regulated euro stablecoin EURAU on Ethereum.
According to Techub News and CoinDesk, the joint venture AlUnity of DWS, Galaxy, and Flow Traders has launched EURAU, a euro-denominated stablecoin approved under Germany's new cryptocurrency regulations. EURAU has obtained an electronic money license from Germany's Federal Financial Supervisory Authority (BaFin). The token is issued in the form of an ERC-20 asset on Ethereum, designed to serve financial institutions, fintech companies, and corporate clients that require regulated instant cross-border euro payments. AllUnity has partnered with a consortium of European banks to act as the reserve custodian. The token will be listed on the BaFin-regulated digital asset exchange Bullish Europe, with BTC/EURAU and USDC/EURAU trading pairs launched. Flow Traders will provide liquidity as a market maker.