Euro stablecoin
AllUnity, fintech, on Ethereum since July 2025.
Joint venture of DWS (Deutsche Bank's asset manager), Galaxy and Flow Traders; BaFin e-money institution licence granted 2025-07-02; the first MiCAR euro stablecoin under a German EMI licence. NOT issued by Deutsche Bank the bank. Also on Base and Arbitrum (Ethereum-family) and Solana, Stellar. CAVEAT: AllUnity's own release does not name a chain; the chain breakdown comes from rwa.xyz. Institutionally significant, economically negligible at roughly half a million dollars.
In the record
13
months from first observation to the record's assessment of August 2026
13
fintech rows in the record, this one included
45
rows filed to Ethereum by their sources
What it bears on
R3Do we know what this instrument is, legally, in every venue we operate?
needs design
ETH is a digital commodity in the United States and stablecoin law is in force. Market-structure legislation stalled, and jurisdictions are diverging.
R6Who is the counterparty when there is no counterparty?
needs design
An ownerless system meeting procurement built for vendors. Six organisations can take your first call, and our own unincorporated status is part of this problem, not outside it.