The Ethereum-focused treasury firm is also exploring compliant trading of tokenized shares on decentralized markets as part of its partnership with Superstate.
The fund is a feeder into Apollo's private credit strategy, which includes corporate lending and dislocated credit. It's open only to qualified investors.
The banks involved in the new euro-denominated stablecoin are: ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank and Raiffeisen Bank International.