Important points
- AllUnity, a joint venture between German financial giants Deutsche Bank and DWS, has launched a euro-denominated stablecoin called EURAU on the Ethereum, Solana, Arbitrum, Base, Optimism, and Polygon blockchains.
- The enterprise-grade MiCA-compliant stablecoin enables interoperability via Chainlink’s Cross-Chain Interoperability Protocol (CCIP). EURAU is fully backed by euro reserves held in segregated accounts supervised by the German Federal Financial Supervisory Authority (BaFin).
- As of September 2025, there are $300 billion worth of stablecoins in circulation, with dollar-backed tokens such as USDt and USDC dominating the space. On the other hand, euro fixed assets account for only $620 million of the total market capitalization.
EURAU, a europegged stablecoin developed by AllUnity, a joint venture between Deutsche Bank and asset management company DWS, has gone live on Chainlink’s (LINK) Cross-Chain Interoperability Protocol (CCIP).
Stablecoins that are compliant with the European Union’s Cryptoassets Market Regulation (MiCA) utilize the CCIP protocol to connect. EthereumArbitrum, Base, Optimism, Polygon, Solana blockchain. The company plans to expand EURAU support to the Canton Network for advanced institutional financial applications, according to an announcement Thursday.
AllUnity’s EURAU Euro stablecoin aims for seamless transactions across both EVM and non-EVM blockchains
AllUnity CEO Alexander Hoptner said CCIP will allow EURAU to operate “seamlessly” across multiple blockchains, increasing reach and ease of use. Meanwhile, Fernando Vazquez, President of Banking and Capital Markets at Chainlink Labs, said the merger lays the foundations for the “next stage of tokenized finance” in Europe.
Chainlink CCIP is a secure, open-source, inter-blockchain messaging standard designed for seamless, trust-minimized communication between different blockchains. This allows developers to build cross-chain applications that facilitate the transfer of data, tokens, or both.
For EURAU, this means: smart contract Assets created on one network can securely interact with assets on another network, facilitating efficient token movement without compromising security. On-chain data shows that CCIP has already processed billions of dollars in cross-chain value transfers, underscoring its robustness.
AllUnity’s founding companies, DWS and Deutsche Bank, are two of Europe’s leading financial institutions. DWS reports assets under management of $1.67 trillion, and Deutsche Bank currently has about $1.64 trillion on its balance sheet as of June 2025, according to data from Companies Market Cap.
EURAU is based on the MiCA crypto framework and is fully backed by euro reserves held in segregated accounts. The stablecoin, which focuses on enterprise use cases such as B2B payments, treasury, and on-chain payments, will undergo regular audits and AllUnity will produce transparent quarterly reports on its stability mechanisms.
In July, the enterprise stablecoin company received an electronic money institution (EMI) license from Germany. Federal Financial Supervisory Authority (BaFin) We will issue a MiCA compliant EURAU.
Backed by US-based Galaxy Digital, AllUnity aims to seamlessly integrate EURAU into the workflows of regulated institutions, fintech platforms, and corporate finance. Based in the Netherlands, Flow Traders acts as a stablecoin liquidity provider.
European stablecoin competition intensifies as Circle, Paxos and major regional banks vie for market share
The launch of EURAU comes as Europe emerges as a key battleground in the global stablecoin race. AllUnity’s Eurocoin is expected to gain significant traction within the 27 member states, as stablecoin market leader Tether is not yet compliant with the MiCA framework. As a result, USDt, the world’s largest stablecoin by market capitalization, has been delisted from Binance, Kraken, and Coinbase exchanges in the European Economic Area (EEA).
Circle, the issuer of the USDC stablecoin, has been the biggest beneficiary of Tether’s European ban. The company’s EURC and USDC, backed by Coinbase, are the premier MiCA-compliant euro- and dollar-backed stablecoins. Recently, Paxos announced the launch of its own MiCA-friendly USDG coin.
At the same time, nine major European banks, including ING, UniCredit, Danske Bank, SEB, KBC, Banca Sella, DekaBank, CaixaBank, and Raiffeisen Bank International, have formed a consortium with the aim of issuing a euro-denominated stablecoin by 2026. Their goal is to counter American dominance in the crypto market by building reliable European payment standards and enabling 24/7 cross-border payments. Programmable payments, supply chain and digital asset settlement improvements. The consortium aims to establish a company in the Netherlands and obtain a license as an electronic money institution from the Dutch Central Bank.
As of September 2025, the global stablecoin issuance amounted to nearly $300 billion, of which only $620 million was euro-pegged coins. USDt remains the undisputed leader with a market cap of $183 billion, followed by USDC in second place with a market cap of $75.8 billion, according to CoinMarketCap data.
