Deutsche Bank Subsidiary Forms Partnership With Galaxy Digital and Other Firms To Launch New Euro Stablecoin


The asset management arm of German financial services giant Deutsche Bank is collaborating with crypto firm Galaxy Digital and others to launch a new Euro-pegged stablecoin.

In a new press release, DWS Group says it’s partnering up with Galaxy Digital and trading firm Flow Traders to form AllUnity, a company that plans to issue a fully collateralized EUR-denominated virtual currency.

“The partnership will combine DWS’ strong portfolio management and product structuring capabilities, Flow Traders’ leading liquidity provisioning expertise and connectivity in both traditional and digital assets globally, and Galaxy’s technical infrastructure and track record of delivering innovative digital asset solutions to investors.

As a result, AllUnity will be well-positioned to deliver the leading regulated EUR-denominated stablecoin for institutional, corporate, and private user adoption.”

According to the press release, AllUnity is slated to be incorporated in April 2024 after the European Union’s (EU) new MiCAR (Markets in Crypto Assets Regulation) laws take effect.

“AllUnity will launch during a period of improving regulatory clarity in the digital assets space within the EU, following the newly adopted Markets in Crypto Assets Regulation (MiCAR).

The introduction of MiCAR provides a harmonized legal framework for stablecoins intended to result in greater protection for all market participants.”

As stated by Galaxy Digital chief executive Mike Novogratz in the press release,

“Digital currencies are the natural evolution of the world’s payment system, and Europe – a region at the forefront of the exploration of safe, secure digital money – is paving the way for this inevitable shift.

We are excited to collaborate with DWS and Flow Traders, two financial trailblazers and pioneers, to introduce an open, fungible, and interoperable EUR-denominated stablecoin that will enable investors across the world to gain access to the burgeoning digital asset space.”

Source : The Daily Hodl / Dec 13, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.