Berlin-based crypto startup Unstoppable Finance is on the verge of establishing Europe’s “first fully regulated DeFi-native bank” along with a fiat-backed Euro stablecoin.
Founded by Peter Grosskopf, Maximillian von Wallenberg-Pachaly, and Omid Aladin, who were instrumental in launching Börse Stuttgart Digital Exchange (BSDEX), Germany’s first regulated crypto exchange, Unstoppable Finance is making waves in the financial industry.
The company’s inaugural product, a crypto self-custodial wallet named ‘Ultimate’, was launched in 2022 and followed a €12.2 million funding round.
Unstoppable Finance plans to issue a fiat-backed stablecoin in compliance with the EU’s new Markets in Crypto Assets (MiCA) regulation. This stablecoin will be pegged one-to-one with the euro and backed by reserves at the European Central Bank, alongside a comprehensive range of banking and financial services spanning both traditional and DeFi platforms.
CTO Peter Grosskopf has experience in banking from his previous role as co-founder and CTO of Solarisbank. He believes that decentralized finance (DeFi) and tokenized assets have the potential to transform the traditional banking landscape.
“The banking system today still largely runs on legacy rails,” he notes. “Money doesn’t flow in real-time. 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.”