Stablecoins in Frankfurt

AllUnity, founded by DWS (Deutsche Bank's asset management arm), Flow Traders and Galaxy, issues EURAU from Frankfurt under a BaFin e-money institution license. It launched as a fully reserved, MiCA-compliant euro stablecoin, and it is the clearest example in Germany of a stablecoin built by established finance, not by a crypto-native startup. See stablecoins in Germany for the full reserve and license rules behind it.

Deutsche Bank, headquartered in Frankfurt, has named EURAU among the stablecoins it plans to hold in custody for institutional and corporate clients, alongside bitcoin and ether. A bank offering stablecoin custody from the same city where the token is issued shortens the chain a corporate treasury team has to trust: issuer, custodian and, for domestic clients, primary bank relationship can sit within a few streets of each other in Frankfurt's banking district.

Deutsche Börse Group, also headquartered in Frankfurt, settles securities through its Clearstream and Eurex units and offers digital asset custody and staking through its subsidiary Crypto Finance. That gives Frankfurt two separate routes into stablecoin infrastructure: a bank-led one through Deutsche Bank and AllUnity, and an exchange-led one through Deutsche Börse, both regulated by BaFin from offices in the same city.

BaFin's payments and e-money supervision sits in Frankfurt, and the Deutsche Bundesbank, also based here, supports BaFin's oversight of e-money institutions. The European Central Bank, headquartered in the same city, watches stablecoins mainly through the lens of monetary sovereignty and the digital euro project it is developing as a public alternative. A Frankfurt stablecoin issuer therefore deals with more regulatory proximity than one based elsewhere in Germany, for better or worse: faster informal contact with supervisors, but also more direct scrutiny.

Finance Loop is the meeting place for people who work on stablecoins and digital money in Frankfurt: bankers, exchange staff and the fintechs around them, alongside IT and AI people from the wider finance sector. It is built in collaboration with TechQuartier.

Finance Loop supported the Bybit EU x Circle Roadshow in Frankfurt, with two panels on stablecoins, USDC and EURC, and is a strategic partner of the Digital Euro Association, host of the Digital Euro Conference in the city. The EURAU issuer AllUnity hosts Capital & Code in Frankfurt, a conference on stablecoins, tokenized funds and payments, and Finance Loop is a media partner of Capital & Code 2026. At the Frankfurt Forum on Digital Assets and Applications, organized by d-fine at the Literaturhaus, the Bundesbank, Deutsche Bank, Commerzbank, DZ Bank and AllUnity discussed payments in DLT-based markets. Related pages: stablecoins in Germany, stablecoins in Europe and payments in Frankfurt.

AllUnity issues EURAU from Frankfurt under a BaFin e-money institution license. The company was founded by DWS, Flow Traders and Galaxy, and its stablecoin is fully reserved and built to MiCA's e-money token rules.

Deutsche Bank has said it plans to custody stablecoins, including EURAU, for institutional and corporate clients, alongside bitcoin and ether. The bank runs this business from its Frankfurt headquarters.

Deutsche Börse Group offers digital asset custody and staking through its subsidiary Crypto Finance, next to the securities settlement it already runs through Clearstream and Eurex. All of it is based in Frankfurt and regulated by BaFin.