As a market infrastructure provider, Deutsche Börse plans to integrate the EURAU stablecoin, pegged to the euro and issued by AllUnity, further expanding the group's digital asset strategy following previous collaborations with Circle's euro coin EURC and Societe Generale-Forge's euro convertible coin EURCV.

According to an announcement shared with Cointelegraph on Wednesday, Deutsche Börse intends to connect EURAU to its financial market infrastructure, initially providing institutional-grade custody through its central securities depository Clearstream. The announcement also promised to "integrate this euro stablecoin into the entire service portfolio" in the future.

This will introduce the stablecoin into a substantial and still-growing market. According to the World Federation of Exchanges, Deutsche Börse's domestic stock market has a total market capitalization of approximately $2.23 trillion, with 474 listed companies.

The two companies have signed a memorandum of understanding but have not disclosed a specific date for when the new features will go live. AllUnity CEO Alexander Höptner stated that this collaboration is "enabling on-chain cross-border payments and digital assets for institutional market participants."

Stephanie Eckermann, a member of the executive board of Deutsche Börse Group, stated, "The goal is to build a seamless bridge between the existing financial world and the future of digital assets." She added that this collaboration is an important part of that effort, and embedding institutional-grade stablecoins into the system will allow clients to "confidently explore new possibilities in digital finance."

At the time of publication, Deutsche Börse and AllUnity had not responded to Cointelegraph's request for comment.

Deutsche Börse's integration of EURAU continues its momentum following its partnership with major stablecoin issuer Circle to adopt its euro coin EURC in late September. Earlier this month, the company also announced a collaboration with Societe Generale-Forge to integrate its euro convertible coin EURCV.

With the latest transaction, Deutsche Börse appears to be making a comprehensive move into the stablecoin landscape, with the newly added EURAU issued by an electronic money institution licensed by the German Federal Financial Supervisory Authority (BaFin). This complements the EURCV, which is linked to a bank, as Societe Generale-Forge is the blockchain division of the French multinational bank Societe Generale; while EURC comes from a U.S. tech issuer.

Although not making headlines as frequently as in the U.S., the EU is also advancing in stablecoin adoption, thanks to the full implementation of the Markets in Crypto-Assets Regulation (MiCA) framework by the end of 2024. The announcement stated that this collaboration "is in line with MiCA" and represents "a tangible step towards the digitization of the European market and enhancing settlement and liquidity processes."

Höptner stated, "Europe is achieving a global leading position in the regulated digital finance space."

However, despite the accelerated progress, stablecoin adoption in Europe remains low. Financial stability experts from the European Central Bank (ECB) stated earlier this month that due to low adoption levels and preventive regulation in place, the risks associated with stablecoins in the eurozone are limited.

Some analysts believe that euro stablecoins are a response to concerns that dollar-pegged stablecoins could threaten the EU's monetary independence. Pierre Gramegna, president of the European Stability Mechanism, stated earlier this month, "Europe should not rely on dollar-denominated stablecoins that currently dominate the market."

The presence of local traditional financial participants in the industry is also increasing. In mid-October, the Franco-German joint banking group ODDO BHF launched a euro-pegged stablecoin under the MiCA framework.

In late September, a group of major European banks jointly launched a euro-pegged stablecoin under the MiCA framework. The list of these nine banks includes the Netherlands' ING and Italy's UniCredit.

Related: Spanish left-wing party proposes raising cryptocurrency tax rate to 47%, criticized as an "attack on Bitcoin (BTC)"

Original article: “Deutsche Börse Locks in Third Euro Stablecoin, Aligning with Broader EU Adoption Trend”

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