AllUnity has announced the launch of its Swedish krona stablecoin, SEKAU. This is another local currency stablecoin issued under the EU's Crypto Asset Markets Regulation (MiCA) framework, primarily targeting institutional settlements, cross-border payments, treasury transfers, and digital asset markets.
The company disclosed that SEKAU is backed by Swedish krona reserves at a 1:1 ratio and is classified as an electronic currency token under MiCA. According to its legal statement, holders can redeem it at par value in accordance with MiCA rules, and the relevant fiat currency reserves are managed in a segregated manner.
The Reserve Bank and its partners have been identified.
AllUnity stated that Banking Circle will serve as the designated reserve and trading bank for SEKAU, responsible for holding and managing the fiat currency reserves backing the stablecoin. Marginalen Bank is also participating in this issuance.
On the infrastructure front, Trust Anchor Group will provide digital asset infrastructure and access support to expand SEKAU’s availability.
The first batch of five public blockchains were launched.
SEKAU was initially deployed on Ethereum, Solana, Base, Tempo, and Polygon. AllUnity stated that the goal of multi-chain deployment is to improve accessibility, liquidity, and usage across different on-chain ecosystems.
- Initially open to existing institutional clients
- Customers can complete casting and redemption through the platform.
- Further network expansion is planned for 2026.
The company also stated that SEKAU will initially offer services through AllUnity Business Mint Account, while simultaneously working towards integration with centralized and decentralized exchanges.
AllUnity expands to include a third currency.
SEKAU is AllUnity's third product in its multi-currency stablecoin portfolio. Previously, the company launched the Euro stablecoin EURAU and the Swiss Franc stablecoin CHFAU.
This development also reflects the accelerating rollout of the European local currency stablecoin market. With MiCA providing clearer issuance rules, banks, fintech companies, and crypto businesses are moving from the research phase to launching products, covering settlement scenarios in the euro, Swiss franc, and now Swedish krona.
Additional information:Earlier this year, the Swedish central bank stated that stablecoins pegged to a single national currency would be regulated as electronic money under MiCA, at a time when there were no Swedish krona stablecoins on the market. SEKAU is not a central bank digital currency but a private currency issued by a regulated company.
