A German fintech startup, AllUnity, has announced plans to introduce SEKAU, a stablecoin pegged to the Swedish krona, with a target launch in June 2025. The token, which requires final approval from Germany’s BaFin regulator, will be fully backed by krona reserves and compliant with the EU’s MiCA framework.
Based in Frankfurt and backed by DWS, Flow Traders, and Galaxy Digital, AllUnity aims to expand its stablecoin lineup beyond the euro and Swiss franc. SEKAU is designed for instant settlements, cross-border payments, and corporate treasury operations, catering to financial institutions and enterprise clients.
The company also unveiled Agentic Payments, a settlement layer using Coinbase’s x402 standard, enabling businesses to accept transactions initiated by autonomous AI agents and settle funds directly into local bank accounts. CEO Alexander Höptner emphasized that Sweden’s move toward a cashless economy requires a digital currency that is interoperable and globally accessible.
AllUnity’s multi-currency model now spans three European currencies, positioning it as one of the few regulated stablecoin issuers offering non-dollar alternatives. However, dollar-pegged tokens still dominate 99% of the global stablecoin market, as US Treasury markets provide deeper liquidity and higher yields. Tokenized US government bonds on-chain total about $15 billion, compared to just $1.4 billion for all other government bonds combined.
Despite the challenges, AllUnity’s COO Peter Grosskopf stated that the platform is built for scale, serving as a gateway for European businesses to integrate agentic payments. Meanwhile, a consortium of 37 European banks is working on a competing MiCA-compliant euro stablecoin targeting a 2026 launch, and other banking groups have selected Fireblocks for a separate euro stablecoin project.