Sweden's Krona Goes On-Chain: AllUnity Drops SEKAU, First MiCA-Stable Krona Stablecoin 🇸🇪

AllUnity has launched SEKAU, a Swedish krona-backed stablecoin issued under the European Union's Markets in Crypto-Assets Regulation (MiCA), according to a statement shared with Cointelegraph on Friday. The token operates as an e-money token under MiCA, backed by segregated Swedish krona reserves and targeted at institutional settlement and cross-border payments. The launch extends AllUnity's multi-currency stablecoin strategy following its Swiss franc stablecoin rollout and builds on EURAU, a euro-backed stablecoin launched in 2025 that 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.

SEKAU debuts across five blockchain networks, including Ethereum, Solana, Base, Tempo and Polygon, with AllUnity planning to expand the token 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 said the multi-chain rollout is designed to improve access, interoperability and liquidity across major blockchain ecosystems.

The launch is supported by a growing partner ecosystem. Luxembourg-based Banking Circle, a regulated business-to-business bank and financial infrastructure company, 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.

AllUnity described SEKAU as 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. The representative added 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. The company pointed to Sweden's e-krona project by the Riksbank, a central bank digital currency exploring tokenized payments infrastructure, as fundamentally different from a stablecoin, noting that the Riksbank communicated earlier this year that there were no stablecoins in Swedish kronor.