Europe’s stablecoin market is preparing for its next leap forward as Deutsche Bank and asset management giant DWS expand their jointly developed euro-pegged token, EURAU, beyond its original network.
Through their venture AllUnity, the two institutions are deploying the stablecoin across several major blockchains using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), paving the way for a unified, multichain financial infrastructure.
From Banking Giants to Blockchain Builders
AllUnity was formed in 2023 as a strategic alliance between Deutsche Bank and DWS to create regulated digital money for institutional finance. While the project began modestly, its ambitions quickly grew as Europe’s regulatory landscape evolved under the Markets in Crypto-Assets (MiCA) framework. The introduction of EURAU marks the pair’s attempt to blend the credibility of traditional finance with the efficiency of decentralized systems.
The token will now operate across Ethereum, Solana, Polygon, Arbitrum, Optimism, and Base, with integration into the Canton Network — a blockchain designed for institutional-grade applications — expected later. This wide network presence gives EURAU flexibility few other stablecoins currently have, allowing liquidity to move seamlessly between public and private blockchains.
Making Euro Liquidity Interoperable
At the heart of this transition is Chainlink’s CCIP, a protocol that enables secure data and asset transfer between blockchains. It functions as a universal messaging layer for digital assets — letting smart contracts on one network trigger actions on another. For AllUnity, that means EURAU can be moved or used across ecosystems without leaving the regulatory perimeter that governs its issuance.
Alexander Höptner, CEO of AllUnity, described the step as a turning point for European tokenized finance. “We’re building infrastructure that makes a digital euro as easy to use onchain as cash in a bank account,” he said.
Chainlink Labs executive Fernando Vazquez echoed that sentiment, calling the collaboration a “technical cornerstone” for Europe’s growing tokenization market. By leveraging CCIP, he explained, AllUnity can connect the continent’s fragmented blockchain networks into a cohesive ecosystem for compliant digital asset transfers.
Backed by Real Assets and Real Regulation
EURAU is designed for enterprise-grade use — particularly for B2B payments, onchain treasury operations, and digital settlement between financial institutions. Unlike many consumer-facing stablecoins, it adheres strictly to MiCA requirements, ensuring full reserve backing and transparency over collateral holdings.
In July, AllUnity secured authorization from Germany’s Federal Financial Supervisory Authority (BaFin), making it one of the first licensed issuers of a MiCA-compliant euro stablecoin. The green light allows EURAU to circulate legally across the entire European Economic Area, offering a compliant alternative to dollar-denominated tokens like USDC or USDT.
The Power Behind the Project
DWS and Deutsche Bank bring significant institutional firepower to the venture. DWS manages more than €1 trillion in client assets, while Deutsche Bank’s balance sheet exceeds $1.6 trillion. This level of credibility is critical for winning over corporate and regulatory stakeholders who have long been cautious about stablecoins.
Their goal is to demonstrate that tokenized euros can exist within the same risk and compliance frameworks as traditional deposits — but with the speed and programmability of blockchain rails. It’s a bet that institutional trust, rather than speculation, will drive the next phase of digital asset adoption in Europe.
Europe’s Bid to Lead in Tokenized Finance
The timing of EURAU’s expansion is strategic. As the European Union seeks to strengthen its monetary sovereignty in the digital era, euro-backed stablecoins could serve as a counterweight to the dominance of dollar-linked assets in global crypto markets. By combining Chainlink’s infrastructure with German regulatory approval, EURAU positions itself as a blueprint for how Europe’s financial system can modernize without compromising stability.
With its multichain rollout underway, AllUnity is establishing one of the continent’s most advanced tokenized payment networks. Beyond serving banks and businesses, the project hints at a larger vision — one where regulated blockchain finance becomes an integral part of Europe’s economic architecture.
Toward a Connected Onchain Future
For Deutsche Bank and DWS, EURAU represents more than just a stablecoin. It’s a statement of intent: that the future of money in Europe will not depend on American infrastructure or offshore issuers, but on domestic institutions operating under transparent, harmonized regulation.
As the token begins circulating across major blockchains, it will test whether traditional finance can coexist — and even thrive — in decentralized environments. If successful, EURAU could become the model for how Europe transitions from legacy systems to tokenized capital markets built on trust, compliance, and technological interoperability.
