- Previously, they introduced Ultimate Crypto Wallet
- And prepare a stablecoin in euro
German startup Unstoppable Finance Launches Europe’s first fully regulated DeFi bank and its own stablecoin.
The Berlin-based crypto company has been working on the mass adoption of decentralized finance for years. Last year they took the first step – they released the Ultimate wallet. Now the company is ready to work as a bank under the MiCA regulation. They submitted a corresponding application to the German regulator. In addition, other European jurisdictions are being discussed.
The company will also become a stablecoin issuer. It will be a coin 100% backed by the euro. In this way, Berliners want to become competitors of such industry giants as Tether or Circle. Both companies have their own Euro stablecoins, although trading volumes are well behind the dollar flagships USDT and USDC.
“Making DeFi fit for the masses is the mission of Unstoppable Finance. We will be the first fully regulated decentralized DeFi bank in Europe.” the company writes in a press release.
They added that banking needs to be rethought from the ground up. And blockchain technology helps in this.
“With the advent of stablecoins, money has become programmable. They are sent around the clock in seconds and provide transparency of transactions. It’s time to take advantage of this important innovation and rebuild the financial system.”
Recall that the European Union called for accelerating the regulation of stablecoins.