German asset manager DWS joins Galaxy to issue euro stablecoin

German asset manager DWS joins Galaxy to issue euro stablecoin

DWS Group, a leading global asset manager, along with Galaxy Digital, a full-service cryptocurrency merchant bank, and Flow Traders, a leading international liquidity provider, have collaborated to launch the world’s first centrally-cleared Euro stablecoin, EUX. This move is aimed at advancing the institutional adoption of digital assets and blockchain technology. The EUX stablecoin, which will be pegged to the Euro, aims to provide a secure, efficient, and transparent means of transferring value in the digital asset space.

The launch of EUX is a significant milestone in the digital asset sphere, as it will facilitate the integration of digital assets into the traditional financial system. The central clearing of EUX by Eurex Clearing, one of the world’s largest clearing houses, will reduce the counterparty risk and increase the market efficiency. With the increasing adoption of blockchain technology and digital assets, this new development could potentially revolutionize the way we conduct financial transactions.

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