This collaboration will see AllUnity’s EUR-denominated stablecoin issued as e-money tokens in compliance with the EU's Markets in Crypto-Assets (MiCA) regulation and available as a settlement currency on 21X.
The last 18 months have been termed a ‘stablecoin summer’, capturing significant positive momentum for the industry. This has included the widespread adoption of stablecoins by financial institutions, banks, and neo-brokers. This called for a regulated European banking-grade stablecoin.
In response, the collaboration between 21X and AllUnity represents an advancement in facilitating convenient and efficient digital asset trading within a regulated EU framework. AllUnity is presently seeking approval as an electronic money institution under the German payment services supervision act (ZAG) and an e-money licence from BaFin.
The integration will provide 21X users with a reliable method for entering and exiting trading positions across various digital assets. The partnership aims to improve accessibility for European investors and businesses, thus accelerating the mass market adoption of tokenised assets.
For AllUnity, this collaboration provides substantial visibility and utility for its EUR- denominated stablecoin, driving adoption and supporting growth. For 21X, incorporating AllUnity is an important element in the platform's growth across the European market. With 21X having an open digital asset ecosystem which includes compatibility with multiple stablecoins, AllUnity aims to extend 21X’s range of settlement currencies.
The two companies share the same goal of creating a fully regulated and public digital asset ecosystem. AllUnity sees this partnership as a step forward to enabling the company to contribute to increasing the adoption of its pending stablecoin within the European market as the convergence of traditional and decentralised finance is growing.
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