Odaily Planet Daily reports that AllUnity, backed by DWS Group, Flow Traders, and Galaxy Digital, has announced the issuance of the Euro stablecoin EURAU. The token, issued on Ethereum, is fully collateralized by the reserves of several European banks and complies with the EU's Markets in Crypto-Assets (MiCA) regulatory framework. Bullish Exchange is the first platform to list it.

AllUnity CEO Alexander Höptner stated that EURAU will initially serve the cryptocurrency market, with the future goal of expanding into a payment tool widely used by large businesses. The company is currently in discussions with approximately 30 companies. Earlier this month, AllUnity received an electronic money institution license from Germany's BaFin. (Bloomberg)