Deutsche Bank-Backed EURA Stablecoin Launches Powerful Multichain Expansion with Chainlink

The EURA stablecoin, created by Monerium and sponsored by Deutsche Bank and DWS Group, has gone multichain after being integrated using Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The change enables the euro-backed stablecoin to function fluidly across blockchain networks like Ethereum and Avalanche, broadening its presence in decentralized finance (DeFi).

According to Cointelegraph, this endeavor is part of a larger digital asset plan by Deutsche Bank and its asset management subsidiary DWS, which aims to allow cross-chain euro settlements and tokenized financial products. EURA, formerly known as EURS, holds 1:1 euro reserves in regulated institutions around Europe.

A Boost for EURA Stablecoin Ecosystem

This development marks a watershed moment for the European stablecoin market, which has traditionally trailed behind the dominance of US dollar-pegged tokens like USDC and USDT. By implementing Chainlink’s CCIP, EURA obtains cross-chain interoperability, which is critical for DeFi developer, exchange, and institutional adoption.

Deutsche Bank and DWS’ cooperation demonstrates a rising institutional desire for blockchain-based euro solutions. The integration might speed up the adoption of regulated euro stablecoins in decentralized finance, payments, and tokenized asset markets. It also fits with Europe’s Markets in Crypto-Assets (MiCA) law, which aims to increase compliance and transparency in stablecoin creation and usage.

Expanding Access and Real-World Use Cases

With the multichain extension complete, Monerium and its partners want to integrate EURA into further DeFi protocols, wallets, and corporate applications. Their long-term objective is to establish EURA as the primary euro-backed stablecoin for on-chain settlements, tokenized asset trading, and cross-border payments.

The Chainlink CCIP integration could lead to advanced financial applications such as automatic currency exchanges between stablecoins, settling real-world assets, and managing transactions across different blockchains.

With institutional backing, regulatory preparedness, and multichain reach, EURA might soon become a cornerstone of Europe’s growing digital currency environment.

Alt.town Expands $TOWN Token Utility and Launches ValueFi Deposit Event