DWS launches JV for first German-regulated euro stablecoin

European fund giant DWS (DWSG.DE), opens new tab has created a new company as part of its plans to launch the first German-regulated cryptocurrency next year, the firm’s CEO told Reuters, as major financial companies jostle to launch new digital tokens.

Deutsche Bank-owned DWS, which manages 941 billion euros ($1 trillion) globally, plans to go live with the first euro-denominated stablecoin to be regulated by Germany’s BaFin watchdog in 2025, Stefan Hoops said. BaFin declined to comment.