The digital asset firm AllUnity has launched SEKAU, a stablecoin pegged to the Swedish krona, under the European Union’s Markets in Crypto-Assets (MiCA) regulation. The company stated that the new token is structured as an electronic money token (EMT) in compliance with MiCA, targeting use cases in institutional settlements and cross-border payments.
Reserve structure and use cases
According to AllUnity, SEKAU is backed by segregated Swedish krona reserves with a 1:1 collateralization ratio. The company emphasized that this framework was designed to meet regulatory standards, with specific focus on institutional users for payment and settlement operations. Previously, AllUnity had rolled out a Swiss franc-pegged stablecoin. With SEKAU, it continues its multi-currency strategy.
Glossary: An EMT, or electronic money token, under MiCA, is a digital asset type pegged to an official currency and backed by reserves. It follows a regulatory framework similar to traditional e-money in terms of use and redemption.
AllUnity has highlighted that SEKAU is the first regulated EMT denominated in Swedish krona, fully compliant with MiCA, and entirely backed by reserves.
Banking Circle, a Luxembourg-based regulated financial infrastructure provider, will hold and manage SEKAU’s reserves. Swedish bank Marginalen will serve as the banking partner during distribution, while Trust Anchor Group, a local digital asset infrastructure company, is responsible for technical integration and broader ecosystem connectivity. Banking Circle is widely recognized for its payment and banking infrastructure solutions for businesses.
Launched on five blockchain networks
SEKAU is now available on five blockchain networks: Ethereum, Solana, Base, Tempo, and Polygon. AllUnity explained that this multi-chain approach aims to boost accessibility, interoperability, and liquidity. The company also announced plans to bring SEKAU to more blockchains in 2026.
This broad rollout marks a more extensive launch compared to AllUnity’s previous products. The company’s Swiss franc-pegged stablecoin, CHFAU, initially launched solely on Ethereum in February before being added to Tempo. AllUnity also operates EURAU, a euro-backed token that went live in 2025.
| Token | Backing currency | Initial network coverage |
|---|---|---|
| SEKAU | Swedish krona | Ethereum, Solana, Base, Tempo, Polygon |
| CHFAU | Swiss franc | Initially Ethereum, later Tempo |
| EURAU | Euro | Not specified in text |
First fully regulated SEK stablecoin in focus
According to CoinGecko, EURAU now holds a market cap of $1.4 million, ranking 16th among 23 euro-denominated stablecoins tracked. The total euro stablecoin market is valued at approximately $883 million. On the Swedish krona front, AllUnity asserts that no public, MiCA-compliant, redeemable structure has previously been validated.
A spokesperson from the company stated that, until now, access to Swedish krona in this context had been mostly confined to early-stage concepts, without MiCA-licensed, fully regulated EMT status.
The company’s representative added that Sweden has seen pilot projects in banking and fintech focused on tokenized deposits and settlement systems. However, these initiatives have generally been closed, experimental platforms rather than publicly redeemable stablecoins. According to AllUnity, the most notable project in this area has been the e-krona initiative by Sweden’s central bank, Riksbank, which explores tokenized payments research but differs fundamentally from stablecoins. Riksbank previously announced in public statements that there are currently no active krona-backed stablecoins.
