Deutsche Bank and asset manager DWS, through their joint venture AllUnity, are deploying the euro-backed stablecoin EURAU across multiple major blockchains using Chainlink's Cross-Chain Interoperability Protocol (CCIP). This move aims to create a unified, multichain financial infrastructure for institutional finance in Europe.
AllUnity was formed in 2023 as a strategic alliance between Deutsche Bank and DWS to develop regulated digital money. The EURAU stablecoin, which is fully backed by reserves and compliant with the Markets in Crypto-Assets (MiCA) framework, will now operate on Ethereum, Solana, Polygon, Arbitrum, Optimism, and Base, with planned integration into the Canton Network for institutional-grade applications.
Alexander Höptner, CEO of AllUnity, described the expansion as a turning point for European tokenized finance, stating, "We're building infrastructure that makes a digital euro as easy to use onchain as cash in a bank account." Fernando Vazquez, President of Banking and Capital Markets at Chainlink Labs, echoed this, calling the collaboration a "technical cornerstone" for Europe's growing tokenization market.
In July, AllUnity secured authorization from Germany's Federal Financial Supervisory Authority (BaFin), making it one of the first licensed issuers of a MiCA-compliant euro stablecoin. This allows EURAU to circulate legally across the European Economic Area, providing a compliant alternative to dollar-denominated stablecoins like USDC or USDT. The stablecoin is designed for enterprise use, including B2B payments, onchain treasury operations, and digital settlement between financial institutions.
DWS manages over €1 trillion in client assets, and Deutsche Bank's balance sheet exceeds $1.6 trillion, bringing significant institutional credibility to the project. This initiative supports Europe's broader goal of strengthening monetary sovereignty in the digital era by reducing reliance on dollar-linked assets and fostering a cohesive ecosystem for compliant digital asset transfers.