🇨🇭 A Swiss franc-backed stablecoin is born
AllUnity, supported by Deutsche Bank, launches the CHFAU, a stablecoin based on the Swiss franc. This ERC-20 token complies with MiCA regulations and is approved by BaFin.
Initially aimed at institutional and professional investors, the CHFAU could be extended to other blockchains in the future. 💼
The choice of the Swiss franc, known for its stability and located outside the eurozone, signals a European effort to expand alternatives to dollar-denominated stablecoins.
However, European stablecoins still remain marginal. AllUnity’s EURAU has a market capitalization of only $1.2 million, while Société Générale-FORGE’s EURCV reaches $77.5 million. 💶
By comparison, Tether’s USDT still dominates with $183 billion, while all euro stablecoins together account for only 0.2% of the total market.
All the details on this ambitious European initiative 👇
AllUnity, supported by Deutsche Bank, launches the CHFAU, a stablecoin based on the Swiss franc. This ERC-20 token complies with MiCA regulations and is approved by BaFin.
Initially aimed at institutional and professional investors, the CHFAU could be extended to other blockchains in the future. 💼
The choice of the Swiss franc, known for its stability and located outside the eurozone, signals a European effort to expand alternatives to dollar-denominated stablecoins.
However, European stablecoins still remain marginal. AllUnity’s EURAU has a market capitalization of only $1.2 million, while Société Générale-FORGE’s EURCV reaches $77.5 million. 💶
By comparison, Tether’s USDT still dominates with $183 billion, while all euro stablecoins together account for only 0.2% of the total market.
All the details on this ambitious European initiative 👇
