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Germany AllUnity issues a compliant stablecoin anchored to the Swiss Franc CHFAU
Mars Finance reports that, according to CoinDesk, German electronic money institution AllUnity announced the launch of a Swiss franc-pegged stablecoin, CHFAU, on the Ethereum blockchain. The token is backed 1:1 by Swiss francs and is intended for institutional payments, settlements, and treasury operations. CHFAU is regulated by Germany’s Federal Financial Supervisory Authority (BaFin) and plans to expand to other networks later this year. AllUnity is a joint venture of DWS, Galaxy, and Flow Traders.