August 10, 2019 German insurance provider, Allianz, is in the process of creating a 1:1 USD-pegged token, similar to JPM Coin.

The token aims to streamline cross-border insurance payments for Allianz’s international corporate customers. The insurer’s token is the latest in a series of enterprise-oriented crpytoassets conceived by traditional financial institutions, including Signature Bank’s Signet and Goldman Sach’s proposed stablecoin.