FRANKFURT (Reuters) -AllUnity, a joint venture that includes Deutsche Bank’s asset manager DWS, said on Wednesday it had received a license by the German regulator BaFin to issue a euro stablecoin. The plans for the stablecoin have been in the works for more than a year. Stablecoins are digital tokens designed to keep a constant […]
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DWS venture gets German finance regulator’s approval for euro stablecoin
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FRANKFURT (Reuters) -AllUnity, a joint venture that includes Deutsche Bank’s asset manager DWS, said on Wednesday it had received a license by the German regulator BaFin to issue a euro stablecoin.
The plans for the stablecoin have been in the works for more than a year.
Stablecoins are digital tokens designed to keep a constant value and are backed by traditional currencies such as the U.S. dollar or euro.
(Reporting by Tom Sims, Editing by Miranda Murray)