AllUnity's euro-backed stablecoin EURAU— a joint venture between Deutsche Bank and asset management company DWS— is expanding to multiple blockchains using Chainlink's cross-chain infrastructure.
According to an announcement shared with Cointelegraph on Thursday, EURAU will utilize Chainlink's Cross-Chain Interoperability Protocol (CCIP) to connect Ethereum, Arbitrum, Base, Optimism, Polygon, and Solana. The company also plans to extend the stablecoin to the Canton Network, a blockchain focused on institutional financial applications.
AllUnity CEO Alexander Höptner stated that CCIP will allow EURAU to "operate seamlessly across multiple blockchains," enhancing its reach and availability. Fernando Vazquez, President of Banking and Capital Markets at Chainlink Labs, added that this integration lays the groundwork for the next phase of tokenized finance in Europe.
EURAU is a euro stablecoin compliant with the Markets in Crypto-Assets Regulation (MiCA), fully backed by reserves, and aimed at enterprise use cases such as B2B payments, treasury, and on-chain settlements.
CCIP is Chainlink's framework for securely transferring data, tokens, and messages across different blockchains. In this system, Chainlink acts as a communication service between blockchains, allowing smart contracts on one network to interact with assets or applications on another network, in this case, transferring tokens across blockchains.
AllUnity's focus on Europe reflects its roots in the collaboration of two major German financial institutions—DWS and Deutsche Bank.
AllUnity's founding companies possess significant resources. As of March 31, DWS reported assets under management of €1.01 trillion ($1.67 trillion). According to Companies Market Cap data, as of June, Deutsche Bank currently holds approximately $1.647 trillion on its balance sheet.
In early July, AllUnity obtained a license from the Federal Financial Supervisory Authority of Germany, allowing it to issue the EURAU stablecoin in compliance with the MiCA framework by the end of July.
Related: Reports indicate that a Nordic bank that once rejected cryptocurrencies is set to launch a Bitcoin (BTC) ETP.
Original article: “EURAU stablecoin supported by Deutsche Bank and DWS goes multichain with Chainlink partnership”
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