Deutsche Börse has announced the integration of AllUnity’s EURAU stablecoin, enhancing its market infrastructure with a robust strategy for euro-pegged digital assets.

This innovative move marks Deutsche Börse’s third euro stablecoin, following partnerships with Circle’s Euro Coin (EURC) and Societe Generale-Forge’s EUR CoinVertible (EURCV). They unveiled this development in a statement, revealing that EURAU will be integrated into their financial market infrastructure, primarily starting with institutional custody through Clearstream, their central securities depository.

“This partnership enables on-chain cross-border payments and facilitates access to digital assets for institutional market participants,” said Alexander Höptner, CEO of AllUnity.

Translation: “This partnership enables on-chain cross-border payments and facilitates access to digital assets for institutional market participants,” said Alexander Höptner, CEO of AllUnity.

The projected integration extends to include EURAU throughout their entire service portfolio, greatly increasing its potential reach. According to statistics from the World Federation of Exchanges, Deutsche Börse boasts a domestic equity market capitalization of approximately $2.23 trillion, with 474 companies listed.

Stephanie Eckermann, a board member at Deutsche Börse, expressed that their aim is to unify the traditional financial sector with the advancing domain of digital assets while ensuring clients can explore new opportunities confidently.

Moreover, AllUnity and Deutsche Börse are currently in discussions regarding the launch timeline for this feature. They are responding to an increasing need to update the digital finance landscape in Europe.

As euro stablecoins gain traction, they are seen as a counter to US dollar-denominated stablecoins.**

“Europe should not be dependent on US dollar-linked stablecoins, which dominate the current market,” Pierre Gramegna, managing director of the European Stability Mechanism, asserted earlier this month.

Translation: “Europe should not be dependent on US dollar-linked stablecoins, which dominate the current market,” Pierre Gramegna, managing director of the European Stability Mechanism, asserted earlier this month.