Autlunity, a joint adventure of Stablecoin by the active manager DWS and the banking giant Deutsche Bank, received a license from the Federal Financial Supervisory Authority (Bafin) (Bafin), according to an announcement on Wednesday.
Bafin granted an electronic monly institution license (EMI) to alluances. With the license, the company plans to issue a stablecoin to the Stablecoin Euro-PEGGED, limited by Bafin, in accordance with the framework of the markets in the regulation of cryptocurrencies (Mica).
Autlunity said that Eurau will present proof of reservations and financial reports of institutional quality.
The initiative, which also involves Galaxy Digital, based in the United States, aims to provide digital assets lengled in euros which are perfectly integrated into the workflows of regulated institutions, Fintech platforms and business treasury bills. Amsterdam -based flowers will serve as a project liquidity supplier.
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The Battle of Stablescoin for Europe
The announcement comes when Europe appears as a key battlefield in the global race of Stablecoin, after the complete implementation of the Mica on December 30, 2024.
Development is partly due to the fact that the world leader in the Stablescoin market has so far refused to comply with the Mica frame. This has led to the cancellation of the USDT (USDT) of Binance, as well as competitors such as Kraken and Coinbase, for users of the European Economic Area.
In relation: The stables -co -compliant with mica dominate the European market – Kaiko
Stablecoins Race for mica compliance
Earlier this week, Paxos announced the launch of its Stablecoin Global Dollar (USDG) in accordance with Mica in the EU.
Reports in mid-April revealed that the market capitalization of the Euro corner of Circle in accordance with Mica (EURC) increased quickly.
The stablescoins of Circle probably benefited from the implementation of Mica, Euro Coin and USDC (USDC) collecting the awards of its regulatory user -friendly approach. The stables of the company are the main stablescoins Euro and American in Pie with American dollars comply with mica.
However, CoinmarketCap data show that the USDT remains the undisputed market leader, with a market capitalization of less than $ 158 billion. The USDT has a significant advance on the second largest stablecoin, USDC, with a market capitalization of less than $ 62 billion.
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