DWS and Deutsche Bank Secure Approval for Euro Stablecoin Launch
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)
