DWS, a German asset management company, Flow Traders, a proprietary trading firm, and Galaxy, a digital asset and blockchain company, agreed to form AllUnity, to revolutionize the on-chain economy by issuing a fully collateralized EUR-denominated stablecoin. Financial terms were not disclosed. “Through the future creation of AllUnity, we will bridge the gap between the traditional and digital finance ecosystems to build a core infrastructure provider that facilitates secure on-chain settlement for institutional, corporate and private use. For instance, corporates with IoT (Internet of Things) businesses could use our regulated EUR stablecoin to make payments in fractions and 24/7 securely, and at their own convenience. We look forward to the collaboration with our partners and to enhancing investor access to digital assets for the future,” Stefan Hoops, DWS CEO.