MiCA-Compliant EURAU Targets Enterprise Payments and Treasury
EURAU, AllUnity’s stablecoin backed by the euro, is growing on several blockchains. Chainlink’s cross-chain technology is being used to accomplish this by the joint venture between asset manager DWS and Deutsche Bank. A Thursday release stated that Chainlink’s Cross-Chain Interoperability Protocol (CCIP) will be used by EURAU. It will be able to communicate with Base, Optimism, Polygon, Ethereum, Arbitrum, and Solana. The stablecoin will also be added to the Canton Network, a blockchain with an emphasis on institutional financial applications, according to the company.
- EURAU is a Markets in Crypto-Assets Regulation (MiCA)-compliant euro stablecoin fully backed by reserves.
- It is marketed for enterprise uses such as B2B payments, treasury, and on-chain settlement.
EURAU Prepares for Next Stage of Tokenized Finance in Europe
According to Alexander Höptner, CEO of AllUnity, the CCIP will enhance EURAU‘s usability and reach by enabling it to function seamlessly across several blockchains. The integration establishes the foundation for the next stage of tokenized finance in Europe, said Fernando Vazquez, president of banking and capital markets at Chainlink Labs.
Chainlink‘s platform for safely moving information, coins, and messages between blockchains is called CCIP. Chainlink functions as an inter-blockchain communication service in this system. It makes it possible for smart contracts on one blockchain to communicate with resources or programs on another, particularly for cross-blockchain token transfers.
Deutsche Bank and DWS Power AllUnity’s Euro Expansion
AllUnity’s emphasis on Europe is a reflection of its beginnings as a partnership between Deutsche Bank and DWS, two significant German financial organizations. The founding businesses of AllUnity have substantial financial resources. Assets under management as of March 31 totaled 1.01 trillion euros ($1.67 trillion), according to DWS. As of June, Deutsche Bank has around $1.647 trillion on its balance sheet, based on data from Companies Market Cap.
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