Episode Details

In this episode of BFRR (Bitcoin, Fiat & Rock’n’Roll), co-host Michael Blaschke sits down with Simon Seiter, Managing Director, CFO and CPO of AllUnity—the regulated stablecoin venture backed by DWS, Galaxy Digital and Flow Traders. Simon brings a rare perspective: he built institutional DLT infrastructure inside one of Germany’s oldest private banks, then crossed to the “other side” to design the on-chain rails banks will ultimately connect to.

The conversation starts with AllUnity’s announcement of a Swiss franc–denominated stablecoin alongside its euro product—not as a headline-grabbing token launch, but as an “infrastructure signal” that the platform was built multi-currency from day one. Simon explains why multi-currency matters for corporates, how MiCA enables CHF issuance via the EEA (through Liechtenstein), and why readiness can compress time-to-market.

Then we go “layer below the coin”: regulated onboarding, wallet and bank-account whitelisting, virtual IBANs, straight-through processing, and automated minting/redemption in ~4.5 minutes. Simon walks through the full stack—transaction banking APIs, smart-contract governance and key management, reserve management (cash plus eligible securities with DWS advice), and the compliance and monitoring layer (sanctions screening, on-chain monitoring, travel rule, blacklisting mechanics). We also unpack where TradFi breaks when you bolt on blockchain: the identity-layer mismatch between accounts and addresses, real-time settlement vs. batch reconciliation, and why weekend liquidity can require buffers or smarter banking partnerships.

Simon’s takeaway for bank CXOs: stop over-strategizing—build wallet and key-management capability now, run real experiments, and treat on-chain settlement as core infrastructure, not a side project.

Mentioned: Digital Euro Conference 2026 (March 26, Frankfurt / online)—discount code BFRR20 in the show notes. Not financial advice.

AllUnity just launched a Swiss franc stablecoin alongside its existing euro product—and while most coverage treats it as a product announcement, this episode treats it as an infrastructure signal. Host Michael Blaschke sits down with Simon Seiter, Managing Director and CFO/CPO at AllUnity, to go layer by layer through the actual technology, partnerships, and design decisions that have to exist beneath a stablecoin before any institutional client will touch it. From onboarding and virtual IBANs to smart contract key management, reserve allocation, and compliance monitoring, Simon walks through the full customer flow and reveals what straight-through processing looks like in practice—including the four-and-a-half-minute mint-to-wallet cycle AllUnity has built.

The conversation goes deeper than technology. Simon and Michael dissect where traditional financial architecture genuinely breaks when it meets blockchain: the identity layer mismatch between KYC-based closed account systems and pseudonymous open networks, the reconciliation gap between end-of-day batch processing and real-time atomic settlement, and the challenge of enforcing sanctions in an open transfer system.

Simon draws on his experience building digital asset infrastructure inside Hauck Aufhäuser Lampe to explain why blacklisting—rather than whitelisting—became the necessary bridge between TradFi’s closed-system paradigm and crypto’s open one, and why banks that haven’t started a wallet infrastructure project at least two years ago have already missed the window to build competitively.

Perhaps most striking is Simon’s candid assessment of the broader institutional landscape. While banks have formed consortia and announced intentions, he argues that very few have actually shipped anything—and that the real bottleneck isn’t strategy or regulation but the willingness to build and the people who can execute. His advice to any bank CXO listening i