Germany’s Unstoppable Finance to build Europe’s first DeFi bank
German fintech start-up Unstoppable Finance, which operates a self-custodial crypto wallet, says it is planning to build Europe’s first fully regulated decentralised finance (DeFi) bank.
Unstoppable Finance is the parent company of DeFi wallet Ultimate
The fintech firm plans to issue a fiat-backed euro stablecoin and become a full bank “unlike other stablecoin issuers” by offering a suite of banking and financial services – both on traditional and DeFi rails.
The fiat-backed stablecoin will be issued following the guidance of the EU’s new Markets in Crypto Assets (MiCA) regulation, which was voted into effect by the European parliament last month.
Unstoppable says the stablecoin will be an e-money token and will serve as a bridge between traditional finance and the decentralised economy.
“The banking system today still largely runs on legacy rails. Money doesn’t flow in real-time,” says Peter Grosskopf, co-founder and CTO of Unstoppable Finance.
“With the advent of stablecoins money became programmable, settling in seconds around the clock, and providing transparency into transaction ledgers. Now is the time to leverage this huge innovation and rebuild the financial system into the one we’d build today.”
Unstoppable Finance was founded in 2021 by Grosskopf along with Maximillian von Wallenberg-Pachaly and Omid Aladini, with the company’s first product – a DeFi wallet called Ultimate – launched in 2022.
Grosskopf previously co-founded Solarisbank in 2016 and served as its CTO. The company provides banking infrastructure and licensing for over 50 European fintech and blockchain start-ups.
