Galaxy, DWS and Flow Traders eye stablecoin launch on Ethereum, Solana

Crypto firm Galaxy looks to collaborate with asset management firm DWS and trading specialist Flow Traders. Their goal is to introduce a stablecoin to accelerate the widespread adoption of on-chain assets.

The forward-looking plan seeks to capitalize on an evolving regulatory framework in Europe, but will ultimately hinge on various approvals. 

The proposed stablecoin, named AllUnity, will be fully collateralized and denominated in euros, the company said Wednesday. The entity is planned to be incorporated in Frankfurt. Its next step involves applying for an E-money license from the German financial regulator BaFin. The company’s aim is to launch the stablecoin within 12 to 18…

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