TechFlow reports that cryptocurrency firm Galaxy aims to collaborate with asset management company DWS and trading specialist Flow Traders to introduce a stablecoin designed to accelerate the broad adoption of on-chain assets.
The proposed stablecoin, named AllUnity, will be fully collateralized and denominated in euros, the company said Wednesday. The entity plans to register in Frankfurt, with the next step involving an application for an e-money license from German financial regulator BaFin. The company targets launching the stablecoin within 12 to 18 months.
A spokesperson stated that the stablecoin is intended to launch on multiple public, permissionless blockchains, including Ethereum and Solana.
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