AllUnity has launched SEKAU, describing it as the first Swedish krona-denominated electronic money token, or EMT, that fully complies with MiCA. The token is backed by segregated Swedish krona reserves on a 1:1 basis and is aimed at institutional payment and settlement use cases.
Fully reserved structure targets institutional settlement
According to AllUnity, SEKAU is supported by segregated SEK reserves with full collateralization. The company said the structure was designed to satisfy regulatory standards, with institutional users as the primary audience. Under MiCA, an EMT is a digital asset pegged to an official currency and backed by reserves, following a framework similar to traditional electronic money for usage and redemption.
AllUnity said SEKAU is the first regulated Swedish krona EMT that is fully MiCA-compliant and completely reserve-backed. The launch also extends the firm’s multi-currency strategy, which already included a Swiss franc-pegged stablecoin.
Banking Circle, Marginalen and Trust Anchor Group involved
Banking Circle, a regulated financial infrastructure provider based in Luxembourg, will hold and manage the reserves behind SEKAU. Swedish bank Marginalen will act as the banking partner during distribution. Local digital asset infrastructure firm Trust Anchor Group is handling technical integration and broader ecosystem connectivity.
The setup points to a product built around regulated financial rails rather than a retail-first rollout. Banking Circle is already known for payment and banking infrastructure services for businesses, which fits the token’s stated focus.
Live on five blockchains at launch
SEKAU is available from day one on Ethereum, Solana, Base, Tempo, and Polygon. AllUnity said the multi-chain rollout is meant to improve accessibility, interoperability, and liquidity. The company also said it plans to expand SEKAU to additional blockchains in 2026.
This is a broader launch than the company used for earlier products. Its Swiss franc stablecoin, CHFAU, first went live only on Ethereum in February and was later added to Tempo. AllUnity also operates EURAU, a euro-backed token that launched in 2025.
Swedish krona stablecoin market remains largely open
CoinGecko data cited in the report shows that EURAU has a market capitalization of about $1.4 million, ranking 16th among 23 euro-denominated stablecoins tracked by the platform. The total euro stablecoin market stands at roughly $883 million. On the Swedish krona side, AllUnity said no public, MiCA-compliant, redeemable structure had previously been validated.
A company spokesperson said access to Swedish krona in this format had mostly been limited to early-stage concepts and had not reached the status of a fully regulated EMT under a MiCA license. The spokesperson also said Sweden has seen pilot work in banking and fintech around tokenized deposits and settlement systems, but those efforts were generally closed experimental platforms rather than publicly redeemable stablecoins.
AllUnity identified the Swedish central bank’s e-krona initiative as the best-known project connected to tokenized payments in the country. That program focuses on research and differs fundamentally from stablecoins. The Riksbank has also said in public statements that there are currently no active krona-backed stablecoins.