Deutsche Bank-backed AllUnity launches Swiss franc stablecoin 'CHFAU'

AllUnity, a joint venture established by Deutsche Bank subsidiary DWS, crypto market maker Flow, and Galaxy, has launched a Swiss franc (CHF) stablecoin, CHFAU, Cointelegraph reported. Compliant with the European Union's Markets in Crypto-Assets (MiCA) regulation, CHFAU is an Ethereum-based ERC-20 token. Initially, it will only be available to institutional and professional investors. The company plans to add support for other blockchains within the year. AllUnity previously launched a euro-backed stablecoin, EURAU, last year.