- They previously introduced the Ultimate crypto wallet
- And are preparing a Euro stablcoin
The German startup Unstoppable Finance launches Europe’s first fully regulated DeFi bank and its own stablcoin.
The Berlin-based cryptocompany has been working on the massive implementation of decentralized finance for years.
Last year they took the first step by releasing the Ultimate Wallet. The company is now ready to operate as a bank under MiCA regulation.
They submitted a corresponding application to the German regulator. In addition, other European jurisdictions are being discussed.
The company will also become an issuer of stabelcoin. It will be a 100% euro backed coin. Thus, the Berliners want to become a competitor to such industry giants as Tether or Circle.
Both companies have their euro-stablecoins, although trading volumes lag far behind the dollar flagships USDT and USDC.
“Making DeFi suitable for the masses is the mission of Unstoppable Finance.. We will be Europe’s first fully regulated decentralized DeFi bank,” the company wrote in its press release.
They added that banking needs to be redefined from the ground up. And blockchain technology helps with that.
“With the advent of stabelcoins, money has become programmable.
They are sent in seconds around the clock and provide transaction transparency.
It’s time to harness this important innovation and rebuild the financial system.”
Remind that the European Union has called for an acceleration of the regulation of stablocoins.