AllUnity announced the introduction of SEKS. This is another local currency stability currency issued in the framework of the European Union Regulation on Encrypted Asset Markets, the MiCA, which is aimed primarily at institutional settlements, cross-border payments, financial transfers and the use of digital asset markets.

The company disclosed that SEKAU was supported by a reserve of SEK 1:1 and classified as an electronic currency token under MiCA. According to its legal statements, the holder may redeem at face value in accordance with the MiCA rules, and the relevant currency reserves are managed in isolation.

Reserve Bank and partners identified

AllUnity states that Banking Circle will act as the designated reserve and trading bank for SEKAU to hold and manage the French currency reserve that supports the stable currency. Marginalen Bank also participated in the launch support.

In terms of infrastructure, Trust Anchor Group will provide digital asset infrastructure and access support to expand the availability of SEKAU.

First five public chains on the line.

The first SEKAU deployments took place in Ethereum, Solana, Base, Tempo and Polygon. AllUnity states that the goal of multi-chain distribution is to enhance accessibility, mobility and use in the ecology of different chains.

  • Initial open to clients of institutions that have been accessed
  • Clients can finish the casting and the redemption through the platform.
  • Follow-up plans to expand more networks in 2026

The company also indicated that SEKAU would first provide services through AllUnity Business Mint Account, while moving towards centralization and decentralisation of trading sites.

AllUnity Extension Third Currency

SEKAU is the third product of AllUnity's multi-currency stable currency layout. Previously, the company had introduced EuroStabilized EURAU and Swiss franc.

This progress also reflects the accelerated landing of a stable currency market for local currencies in Europe. With MiCA providing clearer distribution rules, banks, financial technology companies and encryption companies are moving from the research phase to the actual launch of products, covering the euro, the Swiss franc and now the Swedish kroner settlement scene.

Additional information:Earlier this year, the Swedish Central Bank indicated that the stable currency linked to a single national currency was regulated by electronic money under the MiCA, at a time when there was no SEK in the market. SEKAU is not a central bank digital currency, but a private currency issued by regulated companies.