AllUnity to launch SEK-backed stablecoin SEKAU in June, aims at AI-driven payments push
Frankfurt-based joint venture AllUnity — backed by DWS, Flow Traders and Galaxy Digital — plans to launch a Swedish krona–pegged stablecoin called SEKAU in June, it announced Wednesday. SEKAU will be backed 1:1 by Swedish krona reserves and issued under the EU’s Markets in Crypto‑Assets framework (MiCA). The token still requires final approval from German regulator BaFin before it can debut.
Alongside SEKAU, AllUnity unveiled Agentic Payments, an infrastructure designed to let businesses accept payments initiated by autonomous software agents and settle proceeds directly into local bank accounts using Coinbase’s x402 standard. “Sweden has long been a global leader in the transition toward a cashless economy, but that transition also requires a new form of digital money that is interoperable and globally accessible,” CEO Alexander Höptner said.
SEKAU expands AllUnity’s multi‑currency stablecoin suite, joining euro-backed EURAU and Swiss franc‑backed CHFAU — both launched within the past year. AllUnity operates under a BaFin electronic money institution licence, which provides a direct regulatory pathway for distribution across the EU. The tokens are engineered for 24/7 settlement, cross‑border payments and corporate treasury operations, with financial institutions and enterprise clients as primary targets.
COO Peter Grosskopf emphasized scale: “AllUnity is the gateway for businesses in Europe enabling them to accept, settle, and operationalize agentic payments at scale.” The launch comes as European banks accelerate rival stablecoin efforts: a consortium of 37 lenders is building a MiCA‑compliant euro stablecoin targeting H2 2026, while earlier initiatives saw 12 banks select Fireblocks and a group of nine banks including UniCredit and ING aiming for a similar second‑half‑2026 timetable.
The broader market context remains tilted toward dollar pegs. Roughly 99% of global stablecoin supply is dollar‑pegged, in part because US Treasury markets offer a deeper, higher‑yielding reserve base that dollar issuers can use for distribution and liquidity. Tokenized U.S. government debt represents about $15 billion on‑chain versus roughly $1.4 billion for all other tokenized government bonds combined — a structural advantage non‑dollar issuers must overcome.
With euro, Swiss franc and now krona tokens, AllUnity positions itself as one of the broadest regulated European stablecoin issuers seeking to challenge dollar dominance by offering locally‑pegged, MiCA‑compliant rails for cross‑border commerce and emerging AI‑driven payment flows. Final market entry for SEKAU hinges on BaFin’s approval.
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