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AllUnity’s euro-backed stablecoin, EURAU — a joint venture between Deutsche Bank and asset manager DWS — is expanding across multiple blockchains by using Chainlink’s crosschain infrastructure.
According to a Thursday announcement shared with Cointelegraph, EURAU will use <a href="https://cointelegraph.com/learn/articles/what-is-chainlink-a-beginners-guide-to-the-cross-chain-interoperability-protocol" rel="noopener noreferrer nofollow" target="_self">Chainlink’s</a> Cross-Chain Interoperability Protocol (CCIP) to connect with Ethereum, Arbitrum, Base, Optimism, Polygon and Solana. The company said it also plans to extend the stablecoin to the Canton Network, a blockchain focused on institutional financial applications.
AllUnity CEO Alexander Höptner said the CCIP will allow EURAU to “operate seamlessly across multiple blockchains,” improving its reach and usability. Chainlink Labs’ president of banking and capital markets, Fernando Vazquez, added that the integration lays the groundwork for Europe’s next phase of tokenized finance.
<blockquote>
 “AllUnity is establishing the core infrastructure for the next generation of tokenized finance across Europe.”
</blockquote>
EURAU is a <a href="https://cointelegraph.com/learn/articles/markets-in-crypto-assets-regulation-mica" rel="noopener noreferrer nofollow" target="_self">Markets in Crypto-Assets Regulation (MiCA</a>)-compliant euro stablecoin fully backed by reserves and marketed for enterprise uses like B2B payments, treasury and onchain settlement.
Related: <a href="https://cointelegraph.com/news/euro-stability-mechanism-push-stablecoin" rel="noopener noreferrer nofollow" target="_self">EU eyes euro stablecoins to challenge dollar monopoly</a>
<h2 id="connecting-europe-s-stablecoin-ecosystem">Connecting Europe’s stablecoin ecosystem</h2>
CCIP is Chainlink’s framework for securely transferring data, tokens and messages between different blockchains. In this system, Chainlink serves as an inter-blockchain communication service, enabling smart contracts on one blockchain to interact with assets or applications on another, specifically to transfer tokens across blockchains.
AllUnity’s focus on Europe reflects its roots as a collaboration between two major German financial institutions: DWS and Deutsche Bank.
Related: <a href="https://cointelegraph.com/news/usdc-circle-deutsche-borse-europe-stablecoins" rel="noopener noreferrer nofollow" target="_self">USDC issuer partners with Deutsche Börse for Europe stablecoin adoption</a>
AllUnity’s founding companies have significant resources. DWS <a href="https://www.dws.com/en-gb/our-profile/facts-and-figures/" rel="noopener noreferrer nofollow" target="_blank">reported</a> 1.01 trillion euros ($1.67 trillion) in assets under management as of March 31. Deutsche Bank currently holds about $1.647 trillion on its balance sheet as of June, according to Companies Market Cap <a href="https://companiesmarketcap.com/deutsche-bank/total-assets/" rel="noopener noreferrer nofollow" target="_blank">data</a>.
In early July, AllUnity <a href="https://cointelegraph.com/news/euro-stablecoin-by-dws-and-deutsche-bank-gets-regulatory-approval" rel="noopener noreferrer nofollow" target="_self">received a license</a> from the German Federal Financial Supervisory Authority, allowing it <a href="https://cointelegraph.com/news/eurau-stablecoin-allunity-launch-key-things-to-know" rel="noopener noreferrer nofollow" target="_self">to issue the EURAU stablecoin</a> in compliance with the&nbsp;MiCA framework at the end of July.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-banks-stablecoin-fight/" rel="noopener noreferrer nofollow" target="_self">Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight</a>

Deutsche Bank and DWS-backed EURAU stablecoin goes multichain with Chainlink

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