Autlunity, a joint venture between DWS, Galaxy and Flow Traders, launched Eurau, a stablecoin labeled in Euro approved under the new regulation of Germany cryptography.
Eurau would be the first stablecoin supported by the euro to be issued under the EU markets in the regulation of crypto-sets (Micar) and licensed in electronic silver by Bafin d’Ar Germany. The token, published on Ethereum as an ERC-20ctive Act, is designed for financial institutions, fintechs and customers who need payments in regulated and regulated cross-border euros.
Autlunity has teamed up with a European banks consortium to act as reserve guards. This structure aims to satisfy regulators and institutions in search of transparency, supported by disclosure of proof of routine reserve.
The token made its debut with BTC / Eurau and USDC / Eurau commercial pairs on upward Europe, an exchange of digital assets regulated by Bafin. Flower merchants will provide liquidity as a market manufacturer. (Bulsh is also the owner of Coindesk.)
Supported by names like Bitgo, Metzler Bank and Fireblocks, Eurau signals a wider thrust to integrate the stablecoins regulated in European financial infrastructure. The CEO of Allunity, Alexander Höptner, described the launch one step towards “financial sovereignty” in a digital Europe.
