EURAU: Yield, Fees, Minimum Investment and Who Can Buy

Overview

What this product is

MiCA-compliant euro electronic money token launched by AllUnity, a joint venture between asset manager DWS, market maker Flow Traders, and Galaxy Digital. Supervised by BaFin and structured specifically for institutional on-chain wholesale market making and settlement.

Underlying asset: Segregated euro deposits at German credit institutions and euro sovereign bills
Asset class: Stablecoin
Product structure: E-Money Token
Legal structure: EU MiCA E-Money Token
Issuer jurisdiction: Germany
Fund domicile: Germany
Base currency: EUR
Launched: 25 Jun 2024

Peer set

Comparable products

Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.


EURC	0.00%	0.00%	$0	$565.9M
EURCV	0.00%	0.00%	$0	$160.2M
SEUR	0.00%	0.10%	$1	$48M
EURD	0.00%	0.00%	$0	$32M
EURR	0.00%	0.00%	$0	$19M
EUROP	0.00%	0.00%	$0	$12M
EURQ	0.00%	0.00%	$1	$5.5M

Issuer

Who runs it

AllUnity

Germany

BaFin-regulated joint venture by DWS, Flow Traders, and Galaxy issuing MiCA-compliant EURAU stablecoin.

Portfolio

Composition

Euro central bank and commercial deposits at regulated German banks40.0%
German sovereign debt (Bubills / Bundesobligationen)60.0%

Weighted average maturity

15 days

Reserves

Attestation

Reserve composition

What actually backs the float, from the most recent independent attestation.

Euro commercial deposits at German banksBank deposits40.0%
German sovereign treasury billsTreasury bills · 0–3 months60.0%

Attestation

Verification history

Attesting firm: PricewaterhouseCoopers GmbH
Frequency: monthly
Last attestation: 15 Aug 2026
Reserve WAM: 15 days

An attestation confirms the reserve existed on a reporting date. It is not an audit, and it says nothing about what a holder legally owns if the issuer fails, that question is answered by the legal structure, not the reserve report.

Risk

Reserve profile

Who holds the reserves, and whether the yield they earn reaches you or stays with the issuer.

Held as bank deposits40.0%

Deposits are unsecured claims on a bank; government securities are not. A higher share means more bank credit exposure inside a product marketed as cash.

Backing type: fiat backed
Yield to holders: Retained by the issuer
Peg currency: EUR

Par redemption access

Statutory right of immediate redemption at nominal value under MiCA Article 49.

On-chain history begins 15 Oct 2026 and covers 29 days of readings.

AUM

$302.4K

Assets under management

-9.1% over 29 days held

Yield

0.00%

Yield history. No yield

+0.0% over 29 days held

NAV

1.0000

NAV per token (stable $1.00)

This fund maintains a constant NAV of EUR 1.00 and distributes yield through token supply rather than price. NAV history is therefore flat by construction; monitor supply and yield instead.

-9.1% over 29 days held

Movement

Recent daily movement

Net movement -$30.5KOver 29 daysChange -9.1%


12 Nov 2026	$303.7K	-$2.1K	-0.7%
11 Nov 2026	$305.8K	$332	+0.1%
10 Nov 2026	$305.5K	$809	+0.3%
09 Nov 2026	$304.6K	$110	+0.0%
08 Nov 2026	$304.5K	-$156	-0.1%
07 Nov 2026	$304.7K	-$1.6K	-0.5%
06 Nov 2026	$306.3K	$22.5K	+7.9%
05 Nov 2026	$283.8K	$712	+0.3%
04 Nov 2026	$283.1K	$173	+0.1%
03 Nov 2026	$282.9K	$550	+0.2%

Redemption

Terms

Contractual terms

Redemption frequency: Intraday
Dealing cut-off: 24/7 on-chain; TARGET2 bank settlement hours
Settlement: Direct par redemption at 1.00 EUR per token via Deutsche Bank banking rails
Redemption fee: None
Secondary venues: Flow Traders Institutional OTC, Uniswap v3
Transfer restrictions: Freely transferable on public networks under MiCA compliance framework.

These are contractual terms from the offering documents. Observed settlement performance and any discretionary accommodation by the manager are explicitly out of scope.

Assessment

Liquidity profile

Primary redemption

Intraday · Direct par redemption at 1.00 EUR per token via Deutsche Bank banking rails

Off-hours exit

Available continuously

Secondary market

Flow Traders Institutional OTC, Uniswap v3

Transferability

Freely transferable after compliance period

Exit fee

No redemption fee

Relationship graph

Operational dependency network

Every firm and system this product relies on. Select any of them to open its profile.

Every counterparty and system this product depends on to function. Each card links to that entity's own profile: the question worth asking of each is what happens to your position if it stops working.

Open in Ecosystem Graph →

Issuance & legal

Who is legally on the hook for this product.

Issued byAllUnityGermanyderived Administered byAllUnityGermanyderived

Custody

Where the backing assets actually sit.

Custodied byState StreetBoston, United Statesderived Reserves custodied byFireblocks Custody & Transfer InfrastructureFireblocksderived Reserves custodied byState StreetBoston, United Statesderived

Platform & data

The software and price sources the product runs on.

Price feed powered byChainlink Proof of Reserve & NAVLinkChainlink Labsderived

Markets & settlement

Where it trades and how value moves between venues and chains.

Deployed onEthereumpublic l1 · 100% of supplyderived

Edges marked derived are inferred from a structured field on this product that carries its own source; they are not independent confirmation of it. Edges without that mark were sourced separately from a disclosure naming both parties.

Deployments

Registry

Networks and contracts

		Contract / asset id
EthereumPrimary	public l1	0x4933A85b5b…287EC2c2	100.0%

Counterparties

Service providers

If any of these has a problem, this product is affected.

Custodian: State Street· Boston, United States
Administrator: AllUnity· Germany
Transfer agent: Not disclosed
Tokenization platform: AllUnity· Germany
Oracle / attestation: Chainlink Proof of Reserve

Access

Classification

Who may hold this

RetailEligible

AccreditedEligible

ProfessionalEligible

InstitutionalEligible

Minimum investment: $0
Allow-list required: No
Transfer restrictions: Freely transferable on public networks under MiCA compliance framework.

Geography

Where it is available

United StatesNot available

European UnionNot available

SingaporeNot available

United KingdomNot available

SwitzerlandAvailable

Hong Kong SARNot available

United Arab EmiratesNot available

Explicit prohibitions

−United States

Availability is limited to the jurisdictions in the coverage boundary. Absence here means not covered, not necessarily prohibited. This is a classification of the offering documents, not legal advice.

Structure

Legal and regulatory

Legal structure: EU MiCA E-Money Token
Product structure: E-Money Token
Fund domicile: Germany
Issuer jurisdiction: Germany
Transfer agent: Not disclosed

The domicile of the fund and the jurisdiction of its manager are frequently different. Both are recorded separately because they drive different questions: tax and insolvency follow the domicile, supervision follows the manager.

Source documents

Offering documentation

The documents behind the figures on this page. Anything marked verified has been checked by an analyst.

AllUnity EMT White Paper (MiCA)filing · 25 Jun 2024Parsed & verified↗Monthly Reserve Attestation — Jul 2026attestation · 15 Aug 2026Parsed & verified↗

On-chain activity

Daily value outstanding

Value outstanding as read from the token contracts each day, and the movement between readings. Mints and redemptions are not separable on-chain, so this is the net of both, not gross issuance.

Net movement -$30.5KOver 29 daysChange -9.1%


12 Nov 2026	$303.7K	-$2.1K	-0.7%
11 Nov 2026	$305.8K	$332	+0.1%
10 Nov 2026	$305.5K	$809	+0.3%
09 Nov 2026	$304.6K	$110	+0.0%
08 Nov 2026	$304.5K	-$156	-0.1%
07 Nov 2026	$304.7K	-$1.6K	-0.5%
06 Nov 2026	$306.3K	$22.5K	+7.9%
05 Nov 2026	$283.8K	$712	+0.3%
04 Nov 2026	$283.1K	$173	+0.1%
03 Nov 2026	$282.9K	$550	+0.2%
02 Nov 2026	$282.4K	-$147	-0.1%
01 Nov 2026	$282.5K	$143	+0.1%
31 Oct 2026	$282.4K	$526	+0.2%
30 Oct 2026	$281.9K	$75	+0.0%
29 Oct 2026	$281.8K	-$186	-0.1%
28 Oct 2026	$282K	-$962	-0.3%
27 Oct 2026	$282.9K	-$479	-0.2%
26 Oct 2026	$283.4K	$154	+0.1%
25 Oct 2026	$283.3K	-$48	-0.0%
24 Oct 2026	$283.3K	-$55	-0.0%
23 Oct 2026	$283.4K	-$358	-0.1%
22 Oct 2026	$283.7K	-$146.1K	-34.0%
21 Oct 2026	$429.9K	$58	+0.0%
20 Oct 2026	$429.8K	-$4	-0.0%
19 Oct 2026	$429.8K	-$649	-0.2%
18 Oct 2026	$430.5K	$500	+0.1%
17 Oct 2026	$430K	$0	0.0%
16 Oct 2026	$430K	$95.8K	+28.7%
15 Oct 2026	$334.2K	-	-

Related intelligence

3 events reference this product

11 Nov 2026Infrastructure

Deutsche Bank Opens Digital Asset Custody to Paying Institutional Clients - U.Today

Deutsche Bank officially opened its institutional-grade digital asset custody services to paying corporate and institutional clients.

Commercializing digital asset custody services validates institutional demand for bank-grade crypto and tokenized asset infrastructure in Europe. It directly supports the broader adoption of tokenized treasury and stablecoin settlement mechanisms by providing trusted legal custody under MiCA-aligned frameworks.

11 Nov 2026Infrastructure

Germany’s Biggest Bank Goes Crypto: Deutsche Bank Launches Bitcoin Custody - BeInCrypto

Deutsche Bank has formally launched its digital asset custody services for institutional clients, expanding institutional access to crypto assets in Germany.

The entry of a systemically important European bank into digital asset custody bridges the gap between traditional banking compliance and on-chain infrastructure. This lowers counterparty risk barriers for institutional allocators seeking to integrate tokenized assets and digital currencies into regulated portfolios.

04 Nov 2026Product

AllUnity Plans Swedish Krona Stablecoin for June Launch

AllUnity has announced plans to launch a Swedish Krona-denominated stablecoin by June, expanding its fiat-backed digital asset offerings beyond its initial EUR stablecoin.

The expansion into secondary European fiat currencies diversifies institutional settlement options outside of USD and EUR, creating localized on-chain yield and liquidity pools that reduce foreign exchange frictions for Nordic corporate treasuries.