AllUnity will become the first licensed issuer of a euro-pegged stablecoin in Germany, launching an asset fully compliant with MiCA requirements.

AllUnity obtained an EMI (Electronic Money Institution) license from Germany’s Federal Financial Supervisory Authority (BaFin) and plans to issue the EURAU stablecoin, denominated in euros. The asset will be backed 100% by reserves and will feature institutional-level transparency, including mandatory reserve attestations and regular reporting to regulators. The issuance is expected soon.
AllUnity is a joint venture of Flow Traders, Galaxy, and DWS, a subsidiary of Deutsche Bank.
EURAU will be used for instant 24/7 cross-border payments and integration with financial institutions, FinTech companies, corporate liquidity management systems, and other B2B clients.
Alexander Höptner, CEO of AllUnity, noted that obtaining the license isn’t just a formality but a key step toward building a transparent, secure, and compliant digital payments infrastructure within the EU and beyond.
DWS CEO Stefan Hoops emphasized that EURAU’s issuance will strengthen the EU’s financial sovereignty and lay the foundation for integrating the euro into the blockchain economy.
Mike Kuehnel, CEO of Flow Traders, believes stablecoins are a key element in the convergence of traditional and digital markets, and that BaFin’s license will accelerate the adoption of such assets.
Michael Novogratz, CEO of Galaxy, added that EURAU will provide secure and transparent transfers for institutional market participants and businesses, serving as an important link in building the future European financial infrastructure.
Just recently, Germany’s largest banking institutions officially confirmed plans to launch crypto services for retail clients in 2026. In particular, Deutsche Bank representatives are reportedly considering issuing their own stablecoin.