Fintech startup Unstoppable Finance, currently most well-known for its self-custodial crypto wallet called Ultimate, announced today it will be rolling out Europe’s first compliant “DeFi-native bank” alongside a fiat-backed Euro-pegged stablecoin following MiCA’s guidance.
The DeFI banking arm will ensure that stablecoin is fully backed by reserves, as outlined by the new legislation from Brussels.
Ultimate DeFi wallet enables users to interact with Ethereum and Solana protocols, self-custody assets, and trade crypto from their smartphones.
The company’s stablecoin is legally classified as an “e-money token,” which typically refers to any blockchain-based stablecoin that indexes its value to the price of the fiat currency it references.