AllUnity has launched SEKAU, a Swedish krona-pegged stablecoin issued as an e-money token under the European Union’s MiCA crypto regulatory framework, Cointelegraph reported on June 19. The token is backed by segregated Swedish krona reserves and is pegged 1:1 to those reserves, the company said. SEKAU targets inter-institution payments and cross-border remittances and is launching across five blockchain networks.

Large banks are seeking to offer stablecoins and tokenised financial products as a single integrated package to meet institutional investors\' multi-asset demand. Large asset managers and corporate treasury departments want multi-asset systems that run stablecoins, tokenised bank deposits and tokenised money market funds on the same infrastructure. Sygnum CSO Thomas Eichenberger said institutions want permissioned payments, always-on cross-border transfers and yield products under a single regulatory framework.