The new venture will adhere to BaFin oversight to ensure compliance.
As part of the collaboration, it will utilize GK8's tokenization and custodial technology.
Deutsche
Bank's asset management arm, DWS, has joined forces with the crypto investment firm
Galaxy Digital and the liquidity provider Flow Traders to introduce a joint venture
focused on creating a EUR-denominated stablecoin.
Bridging
Traditional and Digital Finance
The
collaboration, named AllUnity, aims to bridge the gap between traditional and
digital finance ecosystems and is poised to become a core infrastructure
provider for secure on-chain settlements. Scheduled to launch within the next
18 months, AllUnity represents a strategic effort to accelerate the mass market
adoption of digital assets and tokenization.
The
venture will operate under the regulatory oversight of BaFin, Germany's
financial supervisory authority, ensuring compliance with stringent financial
standards. Stefan Hoops, the CEO of DWS, expressed enthusiasm about AllUnity's
potential impact on the financial landscape.
He
stated: "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."
Hoops
provided an example of the innovative applications, stating: "For
instance, corporates with IoT businesses could use our regulated EUR stablecoin
to make payments in fractions and 24/7 securely, and at their own
convenience."
As
part of the collaboration, AllUnity will leverage tokenization and custodial
technology from Galaxy Digital's subsidiary, GK8. This strategic move positions
AllUnity at the intersection of cutting-edge technology and financial
expertise.
The
venture's leadership will be entrusted to Alexander Höptner, a seasoned
professional with experience at BitMEX, Börse Stuttgart, and Deutsche Börse.
Höptner highlighted the regulatory advantages AllUnity stands to gain,
especially in the wake of the newly adopted Markets in Crypto Assets Regulation.
This regulation, now in force within the EU, provides a harmonized legal
framework for stablecoins, offering increased protection for market
participants.
"AllUnity
will be able to leverage MiCAR, which we believe will contribute to growing the
stablecoin market as it provides a robust regulatory framework that enhances
investor protection and market integrity," Höptner said. "In the
coming period, we will focus on building a strong team of talented crypto,
financial markets, technology, and regulation experts to deliver on our
mission."
The
establishment of AllUnity comes at a time when the regulatory landscape for
digital assets is evolving, and the venture is poised to make contributions to
the broader adoption of stablecoins in the financial market.
Deutsche
Bank's corporate banking division aims to enhance fee income and is following
the path of its investment arm, DWS Group, which has ventured into digital
asset-linked services. In Q1 2023, Deutsche Bank reported pre-tax profits of
€1.9 billion, marking an increase of 8%, with corporate banking division revenue
rising 35% to €2 billion.
Deutsche
Bank's asset management arm, DWS, has joined forces with the crypto investment firm
Galaxy Digital and the liquidity provider Flow Traders to introduce a joint venture
focused on creating a EUR-denominated stablecoin.
Bridging
Traditional and Digital Finance
The
collaboration, named AllUnity, aims to bridge the gap between traditional and
digital finance ecosystems and is poised to become a core infrastructure
provider for secure on-chain settlements. Scheduled to launch within the next
18 months, AllUnity represents a strategic effort to accelerate the mass market
adoption of digital assets and tokenization.
The
venture will operate under the regulatory oversight of BaFin, Germany's
financial supervisory authority, ensuring compliance with stringent financial
standards. Stefan Hoops, the CEO of DWS, expressed enthusiasm about AllUnity's
potential impact on the financial landscape.
He
stated: "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."
Hoops
provided an example of the innovative applications, stating: "For
instance, corporates with IoT businesses could use our regulated EUR stablecoin
to make payments in fractions and 24/7 securely, and at their own
convenience."
As
part of the collaboration, AllUnity will leverage tokenization and custodial
technology from Galaxy Digital's subsidiary, GK8. This strategic move positions
AllUnity at the intersection of cutting-edge technology and financial
expertise.
The
venture's leadership will be entrusted to Alexander Höptner, a seasoned
professional with experience at BitMEX, Börse Stuttgart, and Deutsche Börse.
Höptner highlighted the regulatory advantages AllUnity stands to gain,
especially in the wake of the newly adopted Markets in Crypto Assets Regulation.
This regulation, now in force within the EU, provides a harmonized legal
framework for stablecoins, offering increased protection for market
participants.
"AllUnity
will be able to leverage MiCAR, which we believe will contribute to growing the
stablecoin market as it provides a robust regulatory framework that enhances
investor protection and market integrity," Höptner said. "In the
coming period, we will focus on building a strong team of talented crypto,
financial markets, technology, and regulation experts to deliver on our
mission."
The
establishment of AllUnity comes at a time when the regulatory landscape for
digital assets is evolving, and the venture is poised to make contributions to
the broader adoption of stablecoins in the financial market.
Deutsche
Bank's corporate banking division aims to enhance fee income and is following
the path of its investment arm, DWS Group, which has ventured into digital
asset-linked services. In Q1 2023, Deutsche Bank reported pre-tax profits of
€1.9 billion, marking an increase of 8%, with corporate banking division revenue
rising 35% to €2 billion.
CFTC Warns Youth: Don't Fall Prey to Crypto "Money Mule" Scams
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa