Galaxy seeks to launch Euro stablecoin AllUnity in partnership with DWS and Flow Traders

Odaily News Galaxy seeks to cooperate with asset management company DWS and trading company Flow Traders to introduce a stable currency to accelerate the widespread adoption of on-chain assets. This forward-looking plan takes advantage of the opportunities provided by the European regulatory framework, but will ultimately be subject to approvals. The company said on Wednesday that its proposed stablecoin, AllUnity, would be fully collateralized and denominated in euros. The entity plans to be incorporated in Frankfurt and the next step is to apply for an E-money license from German financial regulator BaFin. Galaxy aims to launch the stablecoin within 12 to 18 months. A spokesperson said AllUnity plans to launch on several public permissionless blockchains, including Ethereum and Solana. (Blockworks)