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26/05/26 23:09 UTC-04

Deutsche Bank Platform Wants to Launch a Swedish Krona-Backed Stablecoin

AllUnity, the platform of Deutsche Bank, Germany’s largest bank by assets, has announced that it plans to launch SEKAU in June, a stablecoin backed 1:1 by the Swedish krona.

The SEKAU stablecoin is designed for the needs of financial institutions, fintech companies and other businesses. The developers state that the token has been designed in accordance with the European Union’s Markets in Crypto-Assets Regulation (MiCAR). The company has not yet received regulatory approval to issue SEKAU.

The MiCA regulation, which came into force in December 2024, requires stablecoin issuers to disclose detailed information about the cryptoassets they issue, comply with anti-money laundering (AML) rules, conduct know-your-customer (KYC) procedures, keep their own assets separate from client assets, and hold a licence to operate. AllUnity already has permission to issue regulated tokens in Europe.

AllUnity’s management explained the launch of SEKAU by noting that Sweden has one of the lowest rates of cash use in the world, in contrast to digital payments. The developers are confident that Sweden will be an ideal market for launching SEKAU.

Earlier, AllUnity launched EURAU, a euro-backed stablecoin, and CHFAU, which is pegged to the Swiss franc. Both stablecoins were issued on the Ethereum blockchain as ERC-20 tokens, making the coins compatible with Ethereum-based wallets and decentralised finance (DeFi) protocols. The developers promised to add support for other blockchains.

See also: "Strategy Repurchases $1.5 Billion of Its Own Bonds"

#Stablecoins

Editor: Yulia Krasnaya
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