24/7 Cryptocurrency News

Breaking: Deutsche Bank, Others To Issue Euro-based Stablecoin

Deutsche Bank, along with other partners, is reportedly launching a euro based stablecoin in Frankfurt, Germany.
Published by
Breaking: Deutsche Bank, Others To Issue Euro-based Stablecoin

In what could be furthering the market share of stablecoins in the crypto ecosystem, Deutsche Bank, along with other partners, is reportedly launching a euro-based stablecoin.

Also Read: Here’s Why Bitcoin (BTC) And Crypto Market Falling Today

Advertisement

Deutsche Bank’s Euro Stablecoin

According to a Bloomberg report, Deutsche Bank’s DWS Group, Netherlands based market maker Flow Traders, and crypto fund manager Galaxy Digital Holdings are in plans to launch a company to issue an euro-denominated stablecoin. The initiative is aimed at driving mainstream adoption of tokenized assets, the report said. The new company by the name ‘AllUnity’ is set to be operated from Frankfurt, Germany while efforts to gain regulatory approval are underway.

Currently, the stablecoin market is dominated by Tether USDt (USDT) with a total market cap of $90.65 billion and Circle’s (USDC) market cap of $24 billion.

Advertisement

Former BitMex CEO To Lead New Company AllUnity

The name of the stablecoin is yet to be known while the company, AllUnity, is set to apply for an e-money license with the local financial watchdog the Federal Financial Supervisory Authority (BaFin). AllUnity will reportedly be headed by Alexander Höptner, who was formerly the chief executive officer of crypto exchange BitMex.

The stablecoin will be fully backed by collaterals, the report said. This could be an important aspect in the stablecoin space owing to the criticism around lack of clarity on collateral and the funds to back the stablecoin operations. For example, Tether, the company behind USDT, had in December 2022 announced plans to minimize its loan exposure, after concerns were raised around the safety of stablecoins, in the context of the FTX collapse.

The company said it was focusing on maintaining transparency, accountability and operational eminence to safeguard itself from such calamities. Mike Novogratz’s Galaxy Digital, also had exposure to FTX.

Also Read: CZ, Binance Say US SEC Claims On DOJ Settlement ‘Irrelevant’

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings

Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…

October 2, 2025
  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025
  • 24/7 Cryptocurrency News

XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization

The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…

October 1, 2025
  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025
  • 24/7 Cryptocurrency News

Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility

Pi Network has now added two new features to its Testnet. These are a decentralized…

October 1, 2025
  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025