Summary
- AllUnity said it has launched CHFAU, a stablecoin whose value is pegged 1:1 to the Swiss franc.
- CHFAU will be available only to institutional and professional investors for the first year and will be issued on the Ethereum (ETH) blockchain.
- AllUnity aims to issue regulation-backed stablecoins and previously launched the euro-backed stablecoin EURAU.
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Stablecoin platform AllUnity has launched a Swiss franc-backed stablecoin.
According to Cointelegraph on the 26th (local time), AllUnity announced it would launch the stablecoin “CHFAU” that day. CHFAU is a stablecoin whose value is pegged 1:1 to the Swiss franc.
AllUnity will initially offer CHFAU only to institutional and professional investors for the first year. The stablecoin will be issued on the Ethereum (ETH) blockchain, with plans to expand the network to other blockchains around year-end.
AllUnity is a company established through a joint venture between DWS, Deutsche Bank’s asset management arm, and crypto firm Galaxy Digital, among others. Cointelegraph reported that “issuing a regulation-backed stablecoin is AllUnity’s goal.”
Previously, AllUnity launched the euro-backed stablecoin “EURAU” in July last year. That stablecoin has a market capitalization of $1.2 million.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
