AllUnity to launch Swedish krona-backed stablecoin

AllUnity, a stablecoin company jointly established by Galaxy and others, plans to launch a stablecoin pegged to the Swedish krona (SEK), CoinDesk reported. The stablecoin, named SEKAU, will be 100% backed by Swedish krona reserves and issued in compliance with the European Union's Markets in Crypto-Assets (MiCA) regulation. The company is targeting a launch this June, pending final regulatory and operational approvals.