EURAU, a new euro stablecoin project supported by Deutsche Bank's DWS, Flow Traders, and Mike Novogratz's Galaxy, has debuted on the Ethereum (ETH) blockchain.
The company AllUnity, established and supported by these three entities, announced that EURAU was launched on Thursday, making this regulated stablecoin publicly available on the last day of July.
This new stablecoin is regulated by the German Federal Financial Supervisory Authority (BaFin) and complies with the European Union's Markets in Crypto-Assets Regulation (MiCA).
According to the announcement, EURAU will initially be offered as an ERC-20 token on the Ethereum blockchain, with plans to expand to other networks later in 2025.
Bullish Europe, a cryptocurrency trading platform and custodian regulated by BaFin, will be the first exchange to offer EURAU trading.
After obtaining four licenses from BaFin in December 2024, Bullish has yet to secure a MiCA license. According to the announcement, the Frankfurt-based Bullish Europe is preparing to expand across the EU under the MiCA framework.
The launch of EURAU also involves key ecosystem leaders, including major crypto custodian BitGo.
Other ecosystem partners at launch include Metzler Bank, Tradevest Group, DLT Finance, Fireblocks, V-Bank, 21X, Hacken, Softstack, and OAK Security.
Data from CoinGecko shows that at the time of EURAU's launch, euro-denominated stablecoins accounted for only about 0.2% of the global $272.9 billion stablecoin market.
The total market capitalization of euro stablecoins is estimated to be between $484 million and $587 million, significantly lower than that of dollar stablecoins, which dominate the market with a market cap of up to $268.6 billion.
With Tether's USDT stablecoin alone holding a market cap of $163.7 billion, the overwhelming dominance of dollar stablecoins has become a major concern for European financial authorities regarding the lack of euro alternatives.
Although euro-denominated stablecoins remain small compared to their U.S. counterparts, they have experienced significant growth in recent months.
According to Crypto.com, since December 2024, the market capitalization of euro stablecoins has grown by nearly 60%, rising from $367 million to approximately $587 million.
Despite this growth, some European officials acknowledge that the adoption of euro-pegged stablecoins remains limited, even with frameworks like MiCA aimed at promoting their use.
On Monday, European Central Bank advisor Jürgen Schaaf called for global coordination in regulating stablecoins to prevent the dominance of the dollar, highlighting certain differences in regulatory approaches between the U.S. and the EU.
Related: SEC's new rules tacitly allow staking rewards, Bitcoin (BTC) ETF may trigger $710 billion supply crunch
Original: “EURAU Stablecoin Supported by Deutsche Bank Set to Launch - Key Points Analysis”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
