By Reuters

One Euro coins are seen in this illustration. Reuters

(Reuters) -AllUnity, a joint venture that includes Deutsche Bank's asset manager DWS, said on Wednesday it had received a license by the German regulator BaFin to issue a euro stablecoin.

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The plans for the stablecoin have been in the works for more than a year.

Stablecoins are digital tokens designed to keep a constant value and are backed by traditional currencies such as the U.S. dollar or euro.

(Reporting by Tom Sims, Editing by Miranda Murray)

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