Stefan Hoops, CEO of European fund giant DWS, said the company has created a new company as part of its plan to launch the first euro stablecoin regulated by Germany's Federal Financial Supervisory Authority (BaFin) in 2025.
DWS previously said AllUnity would be launched in June next year, but declined to comment on whether the plan had been delayed. The company behind the token was registered in Frankfurt in June.
It is reported that DWS, a subsidiary of Deutsche Bank, manages 941 billion euros (1 trillion US dollars) in assets worldwide. (Reuters)