The Unstoppable team announced that the bank, along with a suite of traditional financial services, will be an issuer of Eurostablecoins backed by fiat assets.
The bank will offer DeFi-enabled services to customers that comply with the new EU Crypto Asset Markets Act (MiCA).
“Today’s banking system continues to operate on outdated technology. With the advent of stabelcoins, money became programmable and provided transparency of transaction registers.
It’s time to harness this innovation and rebuild the financial system,” proclaimed Unstoppable Finance founder and CTO Peter Grosskopf.
Berlin-based fintech startup Unstoppable Finance went public in 2022 after raising about $13 million to develop its own “non-custodial cryptocurrency wallet with DeFi protocol integration” called Ultimate.
France’s BNP Paribas announced has launched a partnership with the Bank of China to introduce a digital yuan settlement program for corporate clients.