Search results for Swiss franc
Crypto
AllUnity to issue SEKAU Swedish krona-pegged stablecoin
AllUnity, a European regulated stablecoin issuer backed by DWS, Flow Traders and Galaxy, will issue SEKAU, a stablecoin pegged to the Swedish krona. SEKAU will be backed 1:1 by Swedish krona reserves and issued as a regulated e-money token under the EU’s Markets in Crypto-Assets Regulation (MiCA). Holders will have a legal right to redeem at par. The token is designed for institutions, fintechs and corporates, with a June launch planned.
Crypto
Six major Swiss banks test Swiss franc stablecoin
Six major Swiss banks are testing a stablecoin pegged to the Swiss franc with Swiss Stablecoin AG, CoinDesk reported. UBS, PostFinance, Sygnum, Raiffeisen, Zurich Cantonal Bank and BCV set up a sandbox allowing banks and institutions to trial real transactions in a controlled environment through 2026. The project limits user numbers and volumes to manage risk and focuses on payment process testing and programmable money. Switzerland does not yet have a widely used regulated CHF stablecoin.
Finance
Won nears 1,490 per dollar this month, fourth-highest on record; biggest drop among major currencies
South Korea’s average won-dollar exchange rate rose to near 1,490 this month, the fourth-highest on a monthly basis, as foreigners sold a record amount of KOSPI shares. The won has posted the biggest decline against the dollar among major currencies this month. Analysts cited risk aversion linked to the Middle East war, valuation concerns in AI and semiconductors, and worries over Korea’s energy import dependence and export mix.
