Eurou Euro Stablecoin launches at Ethereum with Galaxy, DWS Backing

Eurou, a new Euro Stablecoin venture supported by Deutsche Bank’s DWS, Flow Traders and Mike Novogratz’s Galaxy, has won the Ethereum Blockchain.

Allunity – a company that is -backing and formed by three creatures – announced Eurau launch on Thursday, doing the regulated Stablecoin The public will be available on the last day of July.

The The new stablecoin is controlled by the German Federal Financial Supervisory Authority (BAFIN) and follows European Union’s Crypto-Assets regulation markets (MICA).

Eurou is first available to Ethereum blockchain As a ERC-20 tokenWith plans to expand on additional networks later in 2025, the announcement said.

Bullish Europe is the first exchange to list Eurau

Bullish Europe, a platform of the cryptocurrency and custodian -controlled Bafin, is the first exchange to offer Eurou for trading.

Then acceptance Four licenses from Bafin in December 2024, Bullish still received a MICA license. The headquartered in Frankfurt, Bullish Europe is positioned for expanding the EU under the MICA plot, added the announcement.

Eurau launching also involves major ecosystem leaders, including the main Crypto custody company bitgo.

Related: Hong Kong to start a 6-month transition period for new Stablecoin policies

Other launch ecosystems include Metzler Bank, Tradevest Group, DLT Finance, Fireblocks, V-Bank, 21X, Hacken, Softtack and Oak Security.

Euro Stablecoins make up only 0.2% of the market

Eurou’s launch comes as Euro-Denominated Stablecoins represents Around 0.2% of the $ 272.9 billion global Stablecoin market, According to This coingecko.

By a total capitalization estimated from $ 484 million to $ 587 million, the euro stablecoins pale compared to their US dollars, which dominate The space with $ 268.6 billion in the market cap.

In Tether’s USDT (USDT) Stablecoin only with a $ 163.7 billion market cap, the massive dominance of the US dollar stablecoins is a major concern among European financial authorities due to the lack of euro-based alternatives.

Euro Stablecoins Surge 60% since late 2024

While Euro-Denominated Stablecoins remain small compared to their US rivals, they have experienced significant growth in recent months.

According to In data from crypto.com, the capitalization of the Euro Stablecoins market has increased nearly 60% since December 2024, rising from $ 367 million up to $ 587 million.

Despite the growth, some European officials admitted that the The adoption of euro-pegged stablecoins remains limited Despite frameworks such as Mica aimed at promoting their use.

On Monday, European Central Bank counselor Jürgen SchaaF Called for global coordination Regulating stablecoins to prevent the dominance of the US dollar, featuring some differences between US and EU regulations.