Deutsche Bank’s DWS, Galaxy and Flow Traders team up to launch EURAU stablecoin

A joint venture between Deutsche Bank’s asset management arm DWS, crypto market maker Flow Traders and digital asset firm Galaxy has secured an e-money institution (EMI) license from Germany’s Federal Financial Supervisory Authority (BaFin) to issue EURAU, the country’s first regulated euro-denominated stablecoin, according to CoinDesk. Issued under the EU's Markets in Crypto Assets (MiCA) framework, EURAU will be fully collateralized and provide institutional-grade transparency through proof-of-reserves and regulatory reporting.