AllUnity has launched CHFAU, the first Swiss franc stablecoin fully compliant with the EU’s Markets in Crypto-Assets Regulation (MiCAR). The venture is backed by DWS, Deutsche Bank’s asset management arm, alongside Flow Traders and Galaxy and is catering to the corporate and institutional markets for payments, settlement and treasury operations. By adding a second currency to its existing EURAU stablecoin, it opens up multi-currency possibilities.
CHFAU is by no means the first Swiss franc stablecoin, but the MiCAR oversight via BaFin arguably gives it far greater usability than a Swiss regulated stablecoin, as explained below. The stablecoin or e-money token, is pegged 1:1 to the Swiss franc and backed by segregated reserves. It launches on Ethereum as an ERC-20 token, with expansion to additional blockchain networks planned later this year.
“In response to strong demand for a compliant digital Swiss Franc, we progressed from concept to launch in a matter of months demonstrating the strength and scalability of AllUnity’s multicurrency platform. This milestone is just the start of a broader transformation in how global liquidity moves,” said Alexander Höptner, CEO of AllUnity.
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