According to Odaily Planet Daily, Stefan Hoops, CEO of European fund giant DWS, said the company has created a new company as part of its plan to launch the first euro stablecoin regulated by the German Federal Financial Supervisory Authority (BaFin) in 2025. DWS previously said that AllUnity will be launched in June next year, but declined to comment on whether the plan has been postponed. The company behind the token was incorporated in Frankfurt in June. It is reported that DWS, a subsidiary of Deutsche Bank, manages 941 billion euros (1 trillion US dollars) in assets worldwide.