DB DWS Group, the Dutch market maker Flow Traders Ltd., and Michael Novogratz’s Galaxy Digital Holdings slate the launch of their euro-denominated stablecoin, AllUnity, within 12-18 months. Hand-picked to head the project, Alexander Höptner — former BitMex CEO — is charting AllUnity’s targetted mainstream adoptable of tokenized assets, formerly known as bitcoin ETFs. But AllUnity’s launch still remains pending the greenlight of the E-Money license by Germany’s Federal Financial Supervisory Authority.
The issuance of a new euro-backed stablecoin is looming on the horizon and expected to drop in no more than eighteen months, depending upon Germany’s Federal Financial Supervisory Authority (BaFin) – and their approval of the sought after E-Money license.
Standing at the head of the concept of tokenized assets is the tripartite effort of Deutsche Bank’s DB DWS Group, accompanied by aDutch market maker, Flow Traders Ltd., as well and cryptocurrency fund manager, Michael Novogratz’s Galaxy Digital Holdings.
United as AllUnity, Frankfurt’sat the helm of the whole endeavor is formally chargedwith former BitMex CEO, Alexander Höptner, necessitated by the newly adopted Markets in Crypto Assets Regulation (MiCAR). To keep the token steady, the issuers typically maintain their cash reserves in liquid-assets, which likely includes U.S. government securities. The leverage ofthesealliedcaptains represents the complete spaces of traditional and crypto markets, leading488potentialfore successful adoption of stablecoins. Furthermore, with DWS Group over $927 billion in assets and a first-half-year Flow Traders trading value skyrocketing1500 to around $3 trillion, positive prospects for AllUnity’s complete tangible arrival abloom Ericamongager include aBitcoin ETF Boom, Binance beingplace, surpasses— and stablecoins careening to exiting $200 billion.
