AllUnity Launches SEKAU, a Swedish Krona-Backed Stablecoin Under EU's MiCA Regulation

Digital asset company AllUnity is launching SEKAU, a Swedish krona-backed stablecoin issued under the European Union's Markets in Crypto-Assets Regulation (MiCA).

The new token operates as an e-money token under MiCA, according to a statement shared with Cointelegraph on Friday. It is backed by segregated Swedish krona reserves and targets institutional settlement and cross-border payments.

The launch follows AllUnity’s Swiss franc stablecoin rollout, extending its multi-currency stablecoin strategy under the EU’s MiCA framework.

Banking Circle among SEKAU partners

The launch of SEKAU is supported by a growing ecosystem of partners.

Banking Circle, a regulated business-to-business bank and financial infrastructure company based in Luxembourg, will hold and manage the reserves backing the token, while Swedish Marginalen Bank supports the rollout as a banking partner.

Trust Anchor Group, a local digital asset infrastructure and technology company, provides infrastructure integration for broader ecosystem access to the stablecoin.

Swedish krona stablecoin launches on multiple networks

SEKAU debuts across five blockchain networks, including Ethereum, Solana, Base, Tempo and Polygon.

AllUnity said the multi-chain rollout is designed to improve access, interoperability and liquidity across major blockchain ecosystems. The company added that it plans to expand SEKAU to additional blockchain networks later in 2026.

By contrast, AllUnity’s Swiss franc stablecoin CHFAU initially launched exclusively on Ethereum in February before expanding to Tempo. The company also operates EURAU, a euro-backed stablecoin launched in 2025.

Source: AllUnity

Since launch, EURAU has reached a market capitalization of $1.4 million and ranks as the 16th largest euro stablecoin among 23 tracked tokens, according to CoinGecko. The euro stablecoin market totals about $883 million in combined value at the time of writing.

AllUnity stressed that SEKAU is the first fully reserved Swedish krona-denominated stablecoin aligned with MiCA, issued as a regulated EMT backed 1:1 by SEK reserves.

“SEK exposure has previously existed mainly through early-stage concepts, which are not confirmed as a MiCA-authorized, fully regulated EMT,” a spokesperson for AllUnity told Cointelegraph.

Related: Tether winds down gold-backed derivative stablecoin aUSDT

The representative also mentioned that Swedish banking and fintech pilots have explored tokenized deposit money and settlement systems, but these remain “closed, experimental infrastructures” rather than publicly redeemable stablecoins.

AllUnity said the most relevant initiative is Sweden’s e-krona project by the Riksbank, a central bank digital currency exploring tokenized payments infrastructure, but it is fundamentally different from a stablecoin. Riksbank communicated earlier this year that there were no stablecoins in Swedish kronor.