AllUnity’s EURAU stablecoin will be made available for institutional custody through Deutsche Börse’s Clearstream, which uses its subsidiary Crypto Finance as a subcustodian for digital assets. AllUnity was founded by Deutsche Bank asset manager DWS, Flow Traders and Galaxy, with the first MiCAR-compliant EURAU stablecoin issued in late July, with a current market capitalization of €16.13 million ($18.75 million). In other information from Deutsche Börse, the stock exchange group plans to acquire the fund distribution company Allfunds (unrelated to AllUnity), which manages 1.7 trillion euros in funds. Its blockchain arm is only a small part of the business, but the tokenization of the funds industry is a key strategic shift.
AllUnity marks Deutsche Börse’s third stable partnership, following Deutsche Börse’s previous agreements with Circle and Société Générale FORGE. “By partnering with Deutsche Börse Group, we are making cross-border on-chain payments and digital assets accessible to institutional market participants in a secure and compliant manner,” said Alexander Höptner, CEO of AllUnity.
The institutional custody relationship is the first step toward potentially scaling up use across the group. Although the announcement did not explicitly mention what this would entail, Crypto Finance is a cryptocurrency exchange that is part of the group, and there is the institutional cryptocurrency trading platform 3DX which is part of 360T, Deutsche Börse’s foreign exchange trading platform. Some of the most exciting potential applications are in the consumer and tokenization space, as Jens Hachmeister of Clearstream highlighted in a previous interview.
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