AllUnity, a joint venture backed by Deutsche Bank's DWS, Galaxy (led by Mike Novogratz), and Flow Traders, has launched EURAU – a euro-pegged stablecoin regulated by Germany's Federal Financial Supervisory Authority (BaFin) and compliant with the EU's Markets in Crypto-Assets Regulation (MiCA). The ERC-20 token debuted on the Ethereum blockchain on July 31, 2025, with plans to expand to additional networks later this year.
Bullish Europe, a BaFin-regulated exchange, became the first platform to list EURAU, offering trading pairs with Bitcoin (BTC) and USD Coin (USDC), with Flow Traders serving as the official market maker. The stablecoin targets financial institutions and corporations for instant cross-border euro payments, supported by reserve custodians including Metzler Bank and partners like BitGo, Fireblocks, and DLT Finance.
EURAU enters a market where euro-denominated stablecoins represent just 0.2% ($587M) of the global $272.9B stablecoin sector, dominated by USD alternatives like Tether's USDT ($163.7B). Despite this, euro stablecoins have grown 60% since December 2024. AllUnity CEO Alexander Höptner positioned the launch as a step toward Europe's "financial sovereignty," aligning with ECB adviser Jürgen Schaaf's recent call to counter USD dominance through coordinated regulation.