Payments infrastructure provider AllUnity launched USDAU, a fully reserved US dollar stablecoin issued under the European Union's Markets in Crypto-Assets (MiCA) framework, the company said Wednesday.

The token is structured as an e-money token, backed by segregated US dollar reserves and redeemable one-to-one against the dollar. AllUnity operates as an e-money institution regulated by BaFin, Germany's Federal Financial Supervisory Authority.

USDAU debuted simultaneously across six networks: Ethereum, Solana, Base, Tempo, Arc and Polygon. The rollout targets cross-border payments, treasury management and settlement for institutional and corporate clients.

Who stands behind AllUnity?

AllUnity was formed by DWS, Deutsche Bank's asset management arm, alongside Flow Traders and Galaxy Digital. The issuer counts Deutsche Börse Group among its market-infrastructure partners.

The shareholder base positions the firm among the most bank-affiliated stablecoin issuers in Europe. DWS, one of Europe's largest asset managers, anchors the consortium with institutional credibility and distribution reach.

What does the mint process look like?

The company is adding an Instant FX feature to its Business Mint Account. Institutional clients can mint stablecoins in supported currencies and convert between them on the same platform, AllUnity stated.

The account enables minting and redemption of USDAU, while additional partners provide liquidity, banking, custody and FX services. The structure separates issuance, distribution and treasury functions across specialized providers rather than concentrating them within the issuer.

What regulatory framework applies?

USDAU is issued under MiCA, the EU's comprehensive regulatory framework for crypto-asset issuers. The framework requires e-money token issuers to meet reserve, governance and disclosure standards across all 27 member states.

BaFin's authorization as an e-money institution allows AllUnity to passport services across the European Economic Area. Cross-border deployment depends on the jurisdictional reach of that license and any local distribution arrangements the firm secures.

How does USDAU fit the broader lineup?

USDAU extends a multi-currency lineup that already includes euro-, Swiss franc- and Swedish krona-backed stablecoins. The dollar-pegged token brings the portfolio to four fiat currencies under the same issuer stack.

AllUnity markets the platform as a bridge between stablecoins and traditional banking rails, allowing corporates to manage liquidity and FX exposure without leaving the regulated environment. The pitch targets companies that have so far hesitated to use stablecoins because of counterparty or jurisdictional concerns.

What happens next?

The launch signals how European financial-market incumbents are operationalizing MiCA through bank-affiliated issuers rather than offshore competitors. AllUnity's shareholders will now compete for institutional settlement flows in both euros and dollars under the same regulatory template.

Adoption metrics, additional chain deployments and uptake of the Instant FX feature will determine whether AllUnity can translate regulatory compliance into volume. The competitive test will come from both offshore stablecoin issuers and rival European MiCA-licensed players scaling through 2025.