AllUnity EUR

Three heavyweights of European finance stand behind this euro token: DWS, the asset-management arm of Deutsche Bank, the Amsterdam market-maker Flow Traders, and the crypto firm Galaxy. Their Frankfurt joint venture, AllUnity, won an e-money license from Germany's regulator BaFin in July 2025 and launched EURAU days later as one of the first euro stablecoins issued under the EU's MiCA rules. Each token is fully reserved, backed one-for-one by euro deposits held at several European banks, and any verified holder can redeem it at par with the issuer. It began life as an ERC-20 on Ethereum with Flow Traders as designated market maker, and the plan is to spread across more chains over time. The pitch is regulated, bank-grade euro money that settles onchain rather than through card rails.