Galaxy hopes to cooperate with DWS and Flow Traders to launch stable currency AllUnity

Cryptocurrency company Galaxy is looking to collaborate with asset management company DWS and trading expert Flow Traders to introduce a stablecoin to accelerate the widespread adoption of on-chain assets.The proposed stablecoin, named AllUnity, will be fully collateralized and priced in euros, and the entity plans to register in Frankfurt. Their next step involves applying for an electronic money license from the German financial regulatory authority BaFin, with the goal of launching the stablecoin in 12 to 18 months.A spokesperson stated that the stablecoin is intended to be launched on multiple public permissionless blockchains, including Ethereum and Solana.