“We have received BaFin’s license to issue a euro stablecoin,” said AllUnity, the joint venture that includes Deutsche Bank’s asset manager DWS. According to company representatives, the stablecoin project had been in development for more than a year and marks an important step toward implementing digital financial solutions.

As noted by AllUnity, “Stablecoins are backed by traditional currencies such as the euro or the US dollar and are created to maintain a stable value.” The company emphasized that the obtained license will allow them to offer the market a safe and transparent tool for transactions in the digital economy.