According to Odaily, Stefan Hoops, the CEO of European fund giant DWS, has announced the establishment of a new company. This move is part of the firm's plan to launch its first Euro stablecoin, which will be regulated by the German Federal Financial Supervisory Authority (BaFin) in 2025. DWS had previously stated that AllUnity would be launched in June of the following year, but declined to comment on whether the plan has been delayed. The company behind the token was registered in Frankfurt in June. DWS, a subsidiary of Deutsche Bank, manages assets worth 941 billion Euros (1 trillion USD) globally.