Deutsche Börse Group is to integrate AllUnity’s euro-backed stablecoin into its financial market infrastructure.
The MoU signed with AllUnity, a joint venture between DWS, Flow Traders, and Galaxy comes just weeks after the bourse sealed a deal to embed EUR and USD CoinVertible stablecoins from Societe Generale's digital asset unit SG-Forge into its infrastructure.
Under the new collaboration, EURAU, AllUnity’s euro-backed stablecoin, will initially be made available for institutional-grade custody through Clearstream.
Further steps of the cooperation will include the integration of the euro stablecoin across the entire service portfolio of Deutsche Börse Group
The collaboration builds on the German exchange's recent announcements to collaborate with various stablecoin issuers, and its existing cryptocurrency business Crypto Finance as well as the latter’s collaboration with Clearstream, which commenced the offering of settlement and custody services in crypto assets to institutional investors earlier this year.
Stephanie Eckermann, member of the executive board of Deutsche Börse Group, says: “Our goal is to build a seamless bridge between the established financial world and the future of digital assets. This partnership with AllUnity is an important component of that bridge. By further embedding institution-grade stablecoins within our regulated framework, we empower our clients to confidently explore new possibilities in digital finance, backed by the security and market integrity they have come to expect from us.”