Deutsche Börse Locks In Third Euro Stablecoin Amid Broader Eu Adoption

Deutsche Börse is integrating AllUnity’s EURAU stablecoin into its market infrastructure — its third euro-pegged stablecoin — signaling a full-spectrum push.

Market infrastructure provider Deutsche Börse plans to integrate the EURAU euro-pegged stablecoin issued by AllUnity, expanding the exchange group’s digital-asset strategy following earlier ties with Circle’s Euro Coin (EURC) and Societe Generale-Forge’s EUR CoinVertible (EURCV).

According to a Wednesday announcement shared with Cointelegraph, Deutsche Börse plans to integrate EURAU into its financial market infrastructure, starting with institutional custody through its central securities depository arm, Clearstream. The announcement also promised a future “integration of the euro stablecoin across the entire service portfolio.”

This would integrate the stablecoin into a sizable and growing market. According to World Federation of Exchanges data, Deutsche Börse’s domestic equity market capitalization is about $2.23 trillion with 474 listed companies.

The two companies signed a memorandum of understanding, but have not yet shared a specific date for when the new features will go live. AllUnity CEO Alexander Höptner said that the partnership is “making onchain cross-border payments and digital assets accessible to institutional market participants.”

Deutsche Börse Group executive board member Stephanie Eckermann said the “goal is to build a seamless bridge between the established financial world and the future of digital assets.” She added that this partnership is an important part of the effort and that embedding institutional-grade stablecoins allows clients “to confidently explore new possibilities in digital finance.”

Deutsche Börse and AllUnity had not responded to Cointelegraph’s inquiry by time of publication.

Related: Stablecoin panic could upend ECB policy, Dutch central bank governor warns

Deutsche Börse’s EURAU integration follows its partnership with major stablecoin issuer Circle to adopt its EURC token in late September. Earlier this month, the company also announced that it had partnered with Societe Generale-Forge to integrate its EURCV stablecoin.

With this latest deal, Deutsche Börse appears to be playing the stablecoin game on all fronts, adding EURAU, issued by a German BaFin-licensed e-money institution. This complements EURCV, a bank-tied stablecoin, as Societe Generale-Forge is the blockchain arm of major French multinational bank Societe Generale; EURC comes from a US t

Source: CoinTelegraph