The Euro stablecoin jointly launched by DWS and Deutsche Bank has received regulatory approval.

According to Cointelegraph, AllUnity, a stablecoin company jointly established by asset management company DWS and banking giant Deutsche Bank, has obtained a license from the German Federal Financial Supervisory Authority (BaFin) to issue the EURAU, a euro-pegged stablecoin that complies with the Markets in Crypto-Assets (MiCA) framework. The stablecoin project has been in the works for over a year, and this regulatory approval marks a significant advancement for the joint venture's digital currency plans in the European market. EURAU will provide institutional-grade proof of reserves and financial reporting, ensuring transparency. [ChainCatcher]